Tax incentives have been fully approved for the upcoming redevelopment of the Hoyt Building at 465 W Cermak Road in Chinatown. Sitting on the western edge of Chinatown along the southern branch of the Chicago River, the project has been in the works for a few years with multiple developers. Currently leading the development is Aurora-based Windfall Group, who are working with SPACE Architects + Planners on the design.
New tax incentives have been approved for the mixed-use redevelopment of the Hoyt Building at 465 W Cermak Road in Chinatown. Located along the south branch of the Chicago River on the corner with S Canal Street, the developer fully acquired the building late last year after first buying into it in 2007. That developer is Aurora-based Windfall Group who is working with SPACE Architects + Planners on the new community hub.
An initial approval has been granted for the redevelopment of the Hoyt Building at 465 W Cermak Road in Chinatown. Located along the south branch of the Chicago River on the corner with S Canal Street, the historic building shed its previous developer a few months ago as we covered the updated proposal revealed last January. Now Aurora-based developer Windfall Group received approval from the Permit Review Committee for the SPACE Architects + Planners designed proposal.
New details have been revealed for the mixed use redevelopment of 465 W Cermak Road in Chinatown. Located directly on the south branch of the Chicago River and on the intersection with S Canal Street, the multi-story structure has seen its fair share of redevelopment proposals in the last few years with none coming to fruition yet. Years after 465 W Cermak Road was proposed to be turned into residences, then into a hotel with a home furnishings store, now Aurora-based Windfall Group is set to try again with a change in plans as it now becomes known as Pacifica of Chicago.