Criticized as a condo, 300-unit rental tower project gets city’s love

Related and Tucker cleared a key hurdle, after revising plans for the residential high-rise, which now includes a significant affordable component

TRD CHICAGO /
Dec.December 20, 2019 03:00 PM
906 West Randolph Street

906 West Randolph Street

Related Midwest and Tucker Development have cleared a key hurdle for their plan to build a 300-unit, 43-story apartment tower in booming Fulton Market.

Original plans for the project called for a condominium tower. In addition to the change to rentals, the current project now includes a substantial number of units set aside for affordable housing.

The city Planning Commission this week approved the $215 million rental project at 906 West Randolph Street, which includes 60 affordable units. That’s about double what is mandated under the city Affordable Requirements Ordinance. The plan will now move to the zoning committee before the City Council will vote on it.

Since it was proposed in October 2017, the development group has shaved eight stories off the project, converted the tower to rentals and cut the number of parking spaces from 300 to 75. The 475-foot-tall tower is now 100 feet less than the original plan. It would still rise over the rest of the buildings in the trendy neighborhood, though new towers are being proposed. It also includes ground-floor retail.

The developers will also pay $4.87 million into the city’s Neighborhood Opportunity Fund, according to the city.

Curbed first reported on the planning commission approval.


Related Articles

arrow_forward_ios
Mayor Lori Lightfoot (Credit: Getty Images)

Chicagoans flee to their second homes

854 W. Webster Ave. (Credit: Redfin)

Here are the priciest resi sales in Chicago this week

Sterling Bay CEO Andy Gloor and a rendering of 345 N. Morgan St. (Credit: Sterling Bay, Cara)

Sterling Bay nabs construction loan for Google-leased office building

From left: Lendlease CEO Steve McCann, and Magellan CEO David Carlins, with a rendering of the Cirrus and Cascade projects (Credit: Lendlease/Magellan/bKL Architecture via Curbed)

Lendlease, Magellan land $283M in construction financing for resi towers project

One Bennett Park and Curt Bailey of Related Midwest (Credit: FishSaucer via Wikipedia Commons and Related)

Related’s One Bennett Park scores year’s priciest condo sale

Related Midwest President Curt Bailey & project rendering for 400 Lake Shore Drive

Related Midwest drops new details on $1B plan for former Chicago Spire site

(Credit: iStock)

Chicago is No. 3 city for single women to buy a home: study

A rendering of Related’s proposal for the former Chicago Spire site and Related Midwest president Curt Bailey (Credit:  42nd Ward and Related Midwest)

Related drops hotel from twin-tower resi megaproject

arrow_forward_ios
Loading...