Newcastle is planning a 204-unit apartment tower in Fulton Market, as residential construction in the district continues to open up.
The 33-story building would rise at 210 N. Morgan Street, according to Crain’s.
The original plan for the Fulton Market, which was approved in 2014, designated the area north of Lake Street for businesses and nonresidential projects. The crushing blow the pandemic dealt led local officials, including West Loop Alderman Walter Burnett, to soften their position.
Now, the Newcastle tower project could join a slew of planned residential developments in the area.
LG Development wants to upsize its rental complex by 200 units to 665 units on the 1100 block of Lake Street. Another developer, Fulton Street Cos., in May announced plans to build 1.1 million square feet of residential and office buildings around the 1200 block of West Fulton Street. And in March, planned a 433-unit tower on the same block. Additionally, Trammell Crow is awaiting approval for a 377-unit building it proposed building on Carroll Avenue.
Plans for the Newcastle tower, designed by Hartshorne Plunkard Architecture, show three vertical sections that rise in escalating heights to form a stair-step design, Crain’s reported. The facade is set to be made of glass and black metal, similar to the Willis Tower.
Newcastle bought the Morgan Street property for $4.5 million in 2016, but couldn’t move forward with plans until recently. While it would be the developer’s first apartment tower in Fulton Market, Newcastle has another 12-story apartment building under construction at 1210 N. State Parkway in the Gold Coast, and hopes to break ground on a 35-story multifamily tower at State and Chestnut streets by next fall.
[Crain’s] — Victoria Pruitt