A 23-story tower proposed for River West has earned the approval of the Chicago Plan Commission. Slated for the southwest corner of Milwaukee Avenue and Carpenter Street, the mixed-use project would deliver 226 apartment units, 2,300 square feet of retail space, and parking for 97 cars. An existing four-story office building currently occupied by project developer Tandem Partners, LLC would be incorporated into the planned high-rise.
Commission approves 23-story, 226-unit tower along Carpenter Street between Milwaukee and Huron. Includes a $1.64 million payment into the Neighborhood Opportunity Fund system and 45 affordable units on site #RiverWest #AROpilot pic.twitter.com/PGTwcjDrj5— Chicago DPD (@ChicagoDPD) December 21, 2017
Designed by Chicago-based architect Antunovich Associates, the glassy tower is expected to make a major visual impact on the immediate area—soaring well above the nearby 16-story Spoke apartments. It will join an increasing number of transit-oriented rental developments popping up along the booming Milwaukee Avenue corridor between downtown and Logan Square.
In addition to being on the hook for a $1.6 million payment into the Neighborhood Opportunity Fund in exchange for density bonuses, the proposed River West development would also be one of the first large-scale projects to fall under the City of Chicago’s revised Affordable Requirements Ordinance (ARO) pilot progrom.
Put into effect this fall for three designated areas, the updated rules bump the affordable unit requirement from 10 percent up to 20 percent. This means the development at Milwaukee and Carpenter will contain 45 apartments reserved for tenants earning up to 60 percent of the Area Median Income.
In an October interview with Crain’s, Dimitri Nassis, Tandem's director of development, said his company hopes to break ground in the spring or summer of 2018. At the time, it was also reported that the developer was still securing financing for the 23-story project.
- Mixed-use high-rise proposed near Milwaukee & Carpenter [Curbed Chicago]
- Another 226 apartments planned for River West [Crain’s]
- Previous River West coverage [Curbed Chicago]