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How much is too much for Chicago’s Fulton Market?

Experts worry infrastructure isn’t keeping pace with new projects in city’s hottest market

Andrew Mooney with 900 W. Randolph Street (Chronicle Media, Related)
Andrew Mooney with 900 W. Randolph Street (Chronicle Media, Related)

Experts are starting to wonder how much more development Fulton Market’s infrastructure–and residents–can take.

Relentless pandemic-era projects in Fulton Market have transformed the area into the city’s hottest downtown neighborhood, and more are on the way, according to the Sun-Times.

Fulton Market’s infrastructure hasn’t been as quick to change, according to commentary last month in Crain’s from ex-Chicago Planning Commissioner Andrew Mooney cited by the newspaper.

“Let’s remember that the underlying traffic, transportation and utility infrastructure of the district is still pretty much as it was a hundred years ago,” he said.

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While much of Chicago’s downtown commercial market has been hammered, Fulton Market has remained largely immune. Office vacancies across the city rose about 3 percent last year, while Class A availability in Fulton Market dropped by 1.2 percent and the average price per square foot is about $220 more than the rest of the central business district.

Residents have so far been lenient with developers, seeking to change rather than cancel projects, as with a residential tower under construction at 900 W. Randolph St., which was capped at 43-towers after pushback from neighborhood groups. That may change as the city emerges from the pandemic. Infrastructure hasn’t been tested due to work from home policies, the Sun-Times reported.

Sterling Bay’s biggest investment in the neighborhood so far, a two-tower, 770,000-square-foot project, has been approved for zoning. LG Development has had two apartment buildings, totaling 665 units, approved, and Trammell Crow has been approved for a 650,000-square-foot office building. Projects by Fulton Street Cos. and Clayco and Shapack Partners are also planned.

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[Chicago Sun-Times] — Harrison Connery

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