Chicago has been flush with new developments over the last year, but a new plan is so massive that it may help coin a name for a "new" neighborhood. According to Crain's, Chicago developer CMK and Australian firm Lend Lease Group have plans to build five towers on a 7.3-acre site next to the River City condo complex, with the tallest rising to 47 stories. Perkins + Will principal and design director Ralph Johnson, who designed the Notebaert Nature Museum, among many other projects, created the master plan for the property, which will include 2,700 units. The partnership has filed for a zoning change, and hasn't revealed if it will be rental or condo units or a combination of both. The long-vacant plot, known as Franklin Point, has been the subject of previous development plans, but none have taken hold.
Some people have called the area River South. Regardless of the name, it's seen increasing amounts of activity, which makes sense considering its close proximity to the Loop. CMK and Lend Lease have other riverside sites nearby in development, and D2 and Phoenix Development Partners are also looking at a plot at Harrison and Wells.
· Two-Tower, 700-Unit Project Targets Long-Vacant Land North of River City [Curbed Chicago]