The City of Chicago has approved full building permits for a mixed-use tower on the former site of the Cassidy Tire building on Canal Street.
Chicago-based The Habitat Company, in a venture with Diversified Real Estate Capital, plans to build a 33-story building with retail and housing at 344 North Canal Street, Urbanize Chicago reported. The site is just south of West Kinzie Street, immediately west of the Chicago River.
The tower, which will rise 375 feet, will be designed by Solomon Cordwell Buenz. The residential portion of the project will have 343 units in a mix of studios, one-bedroom and two-bedroom units. There will be parking for 123 vehicles accessible via the second through fourth floors and 185 bike parking spaces on the ground floor.
The residential lobby will front North Canal Street and an internal motor court on the north end of the lot. The retail portion will span 1,400 square feet and make up the remaining street frontage.
In July, in nearby West Town, Shapack Partners shared plans to build a megadevelopment with 1,500 apartments and a 141-key hotel in a former Salvation Army building in River West. The master plan, which will include retail and restaurants on 3.25 acres, will be divided into four parcels across five city blocks.
The projects join a slew of others rising along the North Branch corridor. Sterling Bay is spending $6 billion developing the Lincoln Yards megaproject, which will include life science space, while Onni Group is planning a massive redevelopment of Goose Island that is expected to yield more than 2,500 apartments. In addition, earlier this year Bally’s won a bid to develop a $1.7 billion casino project on the Chicago Tribune Publishing Center in River West.
General contractor McHugh Construction will be able to complete the Cassidy on Canal project now that it has full building permits.
— Victoria Pruitt