Alderman Tom Tunney (44) was joined by several city officials on Wednesday August 13 for the ground breaking ceremony at 3200 N. Clark St., where construction for a sleek, modern 8-story building is set to begin.
In 2013, the plans for the 3200 block of Clark Street proposed a 10-story building with an all glass façade. However, due to neighborhood concerns regarding mix-matched architecture, the plans were struck down and redesigned to the now 8-story building where a combination of metal and glass will help keep the modern appeal of the project.
Coming in at a projected $50m budget, The multi-use building will be home to a downsized Target focusing on groceries, home goods, health and beauty products. On the upper floors, 90 residential units ranging from studios to two bedroom apartments and 39 parking spots will be included. It is estimated that the rental cost will be about 3$ per square foot.
Ald. Tunney believes that this modernization of the Belmont and Clark intersection will help decrease the rising crime rate and also help deem Clark and Belmont one of Chicago's famous intersections. Construction for the building is set to be completed in Summer 2016.