Over 100 River North residents and business owners joined at the former Gino's East last night to cheerlead the end of the pizza-adorned blight (or to commiserate about their dwindling views) at a meeting hosted by Alderman Brendan Reilly and the River North Residents Association. Representatives from Magellan Development and bKL Architecture presented proposals for two new apartment towers in the area. On the table was 167 W. Erie St., the current Gino's East spot on the west end of the block sheathed by Erie and Ontario on the north and south and Franklin and Wells to the west and east.
Magellan Development Group and Mac Management have a proposed 41 story, 444-unit residential building designed by Loewenberg Architects on the "tight" site based with a wider, 8-story podium housing a lobby, retail and parking — with a more narrow portion shooting up into the residential tower.
Designs include a "lifestyle deck" over the existing 640 N. La Salle St. office building (which would be accessible to residents through a bridge) and more than 7,100 square feet of retail space. Magellan's Sean Linnane explained that plans for a larger retail space had been carved up into smaller parcels for boutique tenants to the tune of cafes or galleries.
The site's residential floors would house a mix of studio, convertible, 1-bedroom and 2-bedroom units, with a smattering of 3-bedroom units — at an average unit size of 758 square feet. Initial rental estimates for the unit punch in at $3.25 a square foot.
Developers initially sought a more contemporary look, but designs have morphed into a more old-Chicago-loft-and-warehouse feel with a natural palette more "cohesive" with the neighborhood. The developers hope to earn a LEED silver certification for the project.
If all goes as planned, developers hope building construction could begin in early 2015 and wrap within 18 months.
This post was authored by Curbed Chicago contributor Megan Graham
· This Tower Will Replace Pizza-Adorned Gino's East Building [Curbed Chicago]
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