New million-dollar river-view condos may be coming to River North thanks to a proposed 16 story, 52 unit tower that would cozy up next to the Trump Tower. Belgravia Group, known for high-end condo construction, is trying again to transform the site of an underground parking garage at 403 North Wabash Avenue into high-end real estate, after an attempt to gain air rights in 2007 fizzled due to the housing crash. Belgravia isn't the first developer attempting to plant a flag on the green space above the garage as a Hyatt hotel proposal fell through in 2013.
Once bitten, twice shy doesn't describe Belgravia President and CEO Alan Lev, who told told the Tribune that this time is different due to the changing neighborhood. With Wabash attracting more attention due to the arrival of neighbors like The Langham and the Donald, and the announced expansion of The Shops at North Bridge, a formerly isolated stretch of the city is suddenly becoming very hot, and a luxury mid-rise may fit right in. No word yet about riverfront signage.