A plan to bring 370 new residences to a vacant 4.5-acre parcel at the southeast corner of Elston and Webster avenues was revealed to Bucktown residents on Tuesday. The project, Triangle Square, calls for an elevated central plaza flanked by a trio of buildings featuring a mix of rental apartments, for-sale condos, retail space, offices, and 97 parking spaces.
Though earlier reports had tapped Chicago’s Belgravia Group to exclusively redevelop the site, the Triangle Square plan will see the aforementioned developer team up with The Bond Companies. The joint venture selected Chicago architecture firm Lamar Johnson Collective to spearhead design duties.
According to the Chicago Sun-Times, the development team is hoping to acquire the property next year, contingent on a zoning change from its current industrial designation. If approvals go smoothly, construction could begin as early as next summer with a targeted completion date of 2020.
The Triangle Square proposal is significant not only for its scale, but also for being the first major residential project pitched for Chicago’s North Branch Corridor. A sweeping City Hall measure opening the 760-acre riverfront zone to new uses is expected to facilitate a flood of new developments in the coming years.
Key to the area’s transformation will be the Lincoln Yards mega-development. Identified as a potential site for Amazon’s HQ2 campus, the 100-acre proposal will include new offices, residences, open space, and even a professional soccer stadium. The 20,000-seat arena will open in 2020, according to developer Sterling Bay.
- 370 apartments, condos proposed near Bucktown, Lincoln Park border [Chicago Sun-Times]
- Hundreds of residences planned for former industrial stretch of North Branch [Curbed Chicago]
- More than 300 homes proposed in North Side industrial corridor [Chicago Tribune]