A set of Chicago developers are planning a 36-story, 362-unit apartment complex in the West Loop, adding to the 9,000 apartment units already planned in the neighborhood.
Golub & Co. and GSP Development submitted a proposal for the tower at 301 S. Green St. to the city’s Department of Planning and Development, according to Crain’s. A DPD committee is set to review the proposal on April 13.
Chicago-based Golub and Des Plaines-based GSP aren’t entering the hottest part of the West Loop, the Fulton Market District. The site is further west of FMD and is occupied by a parking lot and several smaller buildings. Neither company responded to requests for comment from Crain’s.
The development is one of many currently proposed or in the planning process in the West Loop. Before this project, there were over 9,000 apartments planned for the area. Many of those are near or within Fulton Market, an area of the city that has seen exponential growth in office and multifamily developments since 2017. It’s unclear how many of these projects will come to fruition, especially as mortgage rates increase.
Designed by Chicago-based Goettsch Partners, the building would be 404 feet tall, making it the tallest building in a two-block radius, according to Crain’s. It would include a three-story base with a 128-parking spot garage.
Golub is known for its developments in Streeterville, the Loop and South Loop, and the firm’s biggest project is the Tribune Tower condo redevelopment. Other projects include a 490-unit apartment tower in Streeterville and a 1,675-unit project on the South Side.
The two developers will have to get approval for a zoning change from the Chicago Plan Commission and City Council before the project could begin, according to Crain’s.
[Crain’s] — Miranda Davis