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Development Watch

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A pitch for downtown graduate housing is before the Chicago Plan Commission today. The plan, which we'd heard inklings of, would convert three structures at 20-28 E Jackson Blvd to 184 units of student and young professional housing. A venture of Chicago developer Steven Tinsley is piloting the project, says Crain's. First, a zoning change is needed. The $57M project aims to charge rents of between $1,500 and $2,600 for one- and two-bedroom apartments. Tinsley's venture is seeking Chicago Landmark status for the 1911 Steger Building at the corner of Jackson and Wabash, and also hopes to score federal historic tax credits. He stresses this will not be a conventional dorm, telling Crain's: "We think in terms of security, privacy and amenities, we offer something no one else does." That may be so, but we don't know many grad students who can afford those rents. [Crain's]