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15 Sep 2021

Chicago City Council Approves $350M Mixed-Use Development In The City's Loop

Connie Kim, The Real Deal
Rendering of 523-45 South Wabash Street (BKV Group)

The 23-story and 36-story mixed-use development towers will provide 777 rental residential units and 314 hotel rooms. The towers designed by BKV Group are due to be added to Downtown Chicago in 2024 now the $350 million mixed-use development proposal received final approval today from the city. 

 

The towers will yield 42,000 square feet of commercial space on the first and second floor of the buildings. There will be a total of 78 affordable units, consisting of studio apartments, one-bedroom, two-bedroom and three-bedroom units. The affordable units are part of Mayo Lori Lightfoot's plan to increase to amount of affordable housing units in new construction.

 

Read more on The Real Deal

                                                                                                                                           

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