Chicago-based Habitat is planning a new 343-unit apartment tower for a prime Fulton River District location that they say is the perfect position between the Loop and Chicago’s ultra-trendy West Loop.
Right now, the site is occupied by an existing warehouse structure that was previously owned by Cassidy Tire & Service, but that would be torn down to make way for the new 33-story high-rise.
Developers say job growth in the area is the primary driving force behind the project, not to mention the addition of two newer office towers to the surrounding neighborhood, including the planned 60-story Salesforce building.
In addition, Habitat’s new apartment development will also provide a close proximity to a number of new office and hotel projects in nearby Fulton Market, helping make it a hot destination for employees already working for countless companies that have a new presence just blocks from 344 N. Canal Street.
The project won’t come without complications, however. According to Crain’s, 344 N. Canal isn’t zoned for residential, so Habitat is forced to seek a zoning change from the city.