476-key Fulton Market hotel project wins key approval
North Park Ventures’ 21-story development, along with 2 other West Loop projects from Trammell Crow and Marquette Companies passed the planning commission this week
Three development projects in the West Loop — including two in Fulton Market — snagged key approvals this week, as the flood of construction plans in that prime Chicago area continues.
North Park Ventures’ 476-key hotel project at 800 West Lake Street, Trammell Crow’s 16-story life sciences development at 400 North Aberdeen Street and Marquette Companies’ 281-unit apartment complex at 1400 West Randolph Street all got the nod Thursday from the city Plan Commission.
Local developer North Park Ventures is proposing a hotel that will rise 21 stories — two more than its original design — and include ground-floor commercial space in Fulton Market.
Trammell Crow’s Fulton Labs life sciences complex would be built on spec, with the goal of opening to tenants by the end of next year. The Fulton Market project, which is meant to take advantage of the city’s relative lack of biotech campuses, will include 150 parking spaces.
Marquette Companies’ 25-story apartment project will include retail and commercial space on the ground floor, and 108 vehicle spaces. As part of the city’s Affordable Requirements Ordinance, the Naperville developer will set aside 27 affordable units on site, and an equal amount off site, at 1926 West Harrison Street, according to the commission. Marquette is also planning to construct two shorter buildings, totaling 260 residential units, at 1436-50 West Randolph Street.
The North Venture, Trammell Crow and Marquette projects will bring in $8.4 million for the city Neighborhood Opportunity Fund. They still require approval from the zoning committee then the full City Council.