The Cabrini-Green makeover has begun. This week a developer introduced plans to erect a 31 story apartment tower in River North, just a stone's throw away from where the former housing project once lived. The $140 million project will sit at the corner of Chestnut and Orleans streets, within walking distance of Chicago's growing tech district in River North. This sleek glass rectangle will contain 333 rental units, 170 underground parking spaces and 10,000 square feet of ground level retail. According to Chicago Real Estate Daily, the developer, Fifield Companies, specifically chose this location with the expectation of attracting young professionals who work at nearby Groupon, Lightbank, the soon-to-be Motorola, among many others. Pending any hold ups with the zoning change process, construction on the project could begin as early as this autumn.
· Fifield plans 31-story apartment tower near ex-Cabrini site [Chicago Real Estate Daily]
· Just Released! The Redevelopment Plan For Cabrini-Green [Curbed Chicago]