Plans for the partial residential conversion of 30 N LaSalle Street in The Loop, part of the city’s LaSalle Street Reimagined initiative. Now more than two years in the making, the project has been slightly altered and approved by the city’s Permit Review Committee, leaving just final approval of its funding outstanding.
The Chicago Community Development Commission has approved initial financing for some of the first LaSalle Street Reimagined projects to move forward. While four projects were presented at yesterday’s meeting, we will be covering the first two today. Those include the proposals at 30 N LaSalle Street and 79 W Monroe Street all within The Loop.
On Wednesday, April 3rd, Mayor Brandon Johnson announced the selection of four developments for the LaSalle Street Reimagined initiative. These projects aim to rejuvenate the area by brining residents into the corridor after pandemic vacancies, utilizing $151.2 million in tax-increment financing funds. The office-to-residential developments will repurpose underused office buildings and adding over 1,000 new residential units, including at least 319 affordable units. Pending approval by the City Council, completion is slated for 2027 as reported by WTTW News.
The city has announced the reconsideration of two proposals for the LaSalle Reimagined initiative after altering their plans. Earlier this year three winners were announced for the program led by the Department of Planning and Development and the Department of Housing, aiming at tackling the record vacancy rates on the historical corridor while addressing the need for affordable housing. Joining 111 W Monroe Street, 135 S LaSalle Street, and 208 S LaSalle Street could be the following two revised proposals:
Part two of this week’s announcement of the six finalists of the LaSalle Street Reimagined initiative in The Loop. In this article we will cover the final three bids vying for part of the city’s $196 million in funding for the program pulled from the LaSalle Central TIF District, part one covering the first three can be found here.
