The tower crane stump and installed foundations can be seen at 225 N Elizabeth Street, set to give way to a new 28-story, 314-foot building in Fulton Market District. Developer Sterling Bay and partnering private equity firm Ascentris are behind this mixed-use project, which will provide 350 new apartment units atop ground-level retail.
The Chicago Community Development Commission has approved initial funds for the redevelopment of the structure at 240 N Ashland Avenue in the West Loop. Located on the southwest corner with W Fulton Street, the famed clocktower building has sat vacant for a few years and is being proposed to become the new home for local incubator mHUB. The non-profit company themselves is behind the efforts, and while no architect has been revealed for the project, a few renderings have also been revealed.
The Chicago Plan Commission has approved updated plans for the mixed-use development at 4715 N Western Avenue and details revealed for the new CTA transit plaza in Lincoln Square. Located on the northeast corner with W Leland Avenue, the project received initial funding approval from the Community Development Commission last month including the sale of the city-owned parking lot it will replace. The proposed building is being led by developer The Community Builders who have teamed up with local firm DesignBridge known for working on other affordable projects in Chicago.
Structural work has now begun on the second floor of 140 N Ashland Avenue, a 12-story mixed-use building rising in Near West Side. Under development by Marquette Companies, the new building will be integrated with an existing five-story brick building adjacent south, yielding a total of 210 apartments atop ground-level retail. The development will yield a minimum of 10 percent on-site affordable units, while it has yet to be determined if the remaining five percent will be on site or off.
Construction has broken ground for 5200 W Chicago Avenue in Austin. The Oak Park Regional Housing Center and Heartland Housing Alliance have partnered to breathe new life into the historic Laramie State Bank building. The building is part of a larger initiative known as INVEST South/West. The new measures hope to focus the resources of multiple city departments, as well as outside community organizations and corporate/philanthropic partners, toward 12 commercial corridors within 10 different south and west side neighborhoods.
