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Loyola Double Whammy: Detailing Plans for State & Chestnut

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It was two for the price of one at Monday's community meeting, where officials were on hand to discuss Loyola's new Quinlan School of Business and a 35-story rental building. As we previously reported, developer Newcastle Ltd. is planning a 367-unit tower at State and Chestnut on a parcel recently acquired from Loyola. Designed by SCB, the glassy, 410-foot building features two amenity floors and a green roof. Its 3,200-square foot retail space will link up with the new business school, forming a continuous arcade along State and Chestnut streets. To reduce the "tower on a podium" effect, the architects have clad the five-story, 165-space parking structure in the same materials as the tower above, resulting in a much more unified structure. Despite some vocal opposition from residents of a neighboring high-rise, support for the project is generally strong. If approved, construction could get begin sometime this summer and last around 20 months. Delivery of the units is expected by 2015, with rents starting at $1,500/month.

The timetable for the Quinlan School of Business is more uncertain as Loyola is still seeking a developer for the ten-story project, made possible in part by a $40M gift from former McDonald's CEO Michael Quinlan. In addition to a five-story building on State and Pearson, a pair of historically significant Queen Anne rowhomes will eventually be demolished to make way for the project. Also designed by SCB and part of the same Planned Development (PD) as Newcastle's tower, the new business school takes full advantage of its corner lot with 7,000-square feet of street-level retail. Among its signature elements: a dramatic two-story presentation area known as a "social stair," numerous "learning neighborhoods," a green roof, and a ninth-floor ballroom. Before ground can break on either project, the developers still need to win over a reluctant Ald. Brendan Reilly, who has criticized the development as too dense for the area. Stay tuned!
·Rental Tower Planned Near Loyola's Downtown Campus [Curbed Chicago]
·Gift Allows for Nine-Story Building at Loyola's Water Tower Campus [Curbed Chicago]