Chicago Plan Commission green lights 1,500 new Fulton Market units

The Chicago Plan Commission approved Thursday proposals to bring almost 1,500 new apartments to Fulton Market, replace Lincoln Park’s closed Royal George Theatre with an eight-story apartment building, and kick-start the redevelopment of a West Englewood school shuttered for a decade, as well as several other projects. All proposals still need full City Council approval.

The $448 million Fulton Market development by Vista Property would be one of Chicago’s largest recent apartment projects, adding up to 1,450 units in three towers at 370 N. Morgan St., 400 N. Morgan St. and 401 N. Morgan St. between Kinzie Street and the Metra tracks. The project would continue the apartment boom in Fulton Market, where developers have thousands of units underway or in the planning stages.

That many units will greatly increase the neighborhood’s density, but Jim Prendergast, design director for Gensler, which designed the project, told commission members that by including about 32,000 square feet of public space, the development will open up the area’s narrow streets.

“The whole goal of our design was to set our buildings farther apart,” he said, “allowing light to come down to the street level.”

The project will also preserve and incorporate a historic building at 413 N. Carpenter St. Twenty percent of the units would be reserved as affordable to comply with the city’s strengthened Affordable Requirements Ordinance, although the developer also agreed to work with the Chicago Department of Housing to secure additional funds, potentially boosting the project to 30% affordable.

“Each building will have just shy of 100 affordable units,” said Katie Jahnke Dale, a partner with DLA Piper, an adviser to Vista Property.

Fulton Market is already Chicago’s busiest construction zone. Greystar Real Estate Partners opened this month One Six Six, a 21-story apartment building at 166 N. Aberdeen St. in Fulton Market. Projects underway include a 28-story tower by Shapack Partners rising at 1353 W. Fulton St., and Sterling Bay’s 225 N. Elizabeth St., a $155 million, 350-unit tower. The plan commission in July also approved plans for 375 N. Morgan St., a 43-story tower proposed by developers Latsko Interests and JDL Development, along with more than a half-dozen other nearby towers approved over the past year, although the rise in interest rates since 2022 and other economic headwinds means it may take some time for these developers to secure financing and break ground.

Vista’s proposal received unanimous support, but before voting, plan commission member and Chicago Park District CEO Rosa Escareno said that with all the new development in Fulton Market, it’s time to seriously consider adding more parks.

“I travel it almost every day, and it’s already a headache, so I think we need to be more thoughtful about that,” she said.

It was a busy day for the Plan Commission. Members approved a host of projects, including the replacement of the Royal George Theatre at 1649 N. Halsted St., an expansion of Fifth Third Arena, the Chicago Blackhawks practice facility and community ice rink at 1801 W. Jackson Blvd., and The Resurrection Project’s proposal for a $44 million, 100% affordable housing development at 2134 S. Ashland Ave. across the street from Pilsen’s Benito Juarez High School.

The commission also approved plans to redevelop the vacant Earle Elementary School at 6121 S. Hermitage Ave. in Englewood into a 50-unit apartment complex serving those coming out of homelessness or those at risk of homelessness. The 1897 school was shuttered in 2013 when former Mayor Rahm Emanuel closed 50 schools, the largest school closure in city history.

Neighborhood residents say rebuilding the campus will heal an old wound.

“It’s been a decade since we lost these schools, and it’s been psychologically exhausting to live in a community where so many vacant spaces,” said Asiaha Butler, co-founder and CEO of the Resident Association of Greater Englewood and a longtime Englewood resident. “People want to see life return to these spaces, and it’s disturbing our elected officials let them sit for so long.”

Gorman & Co. will use a combination of low-income housing tax credits, historic tax credits and other housing grants to complete the more than $30 million project, which will include one and two-bedroom apartments, case management services for residents provided by Phoenix Foundation, a new playground and other amenities, said Ron Clewer, Gorman’s Illinois market president. The company also plans a second phase which will add up to 25 townhomes.

“We’re really happy we can preserve this part of Englewood’s heritage and open up something folks in the neighborhood need,” Clewer said.

Gorman bought the property in 2017 and spent several years meeting with community groups, other residents, and 15th Ward Ald. Raymond Lopez, he added. One clear message was that the project needed to be 100% affordable.

“What we heard folks say is that there is not enough real, quality affordable housing available,” said Clewer. “We knew a lot of existing living spaces could be harmful to kids and families.”

Other Englewood schools closed in 2013 are also finally getting makeovers.

As co-developers, Gorman and Co. and Go Green on Racine, a partnership formed by Butler’s Resident Association of Greater Englewood, Inner-City Muslim Action Network, Teamwork Englewood and E.G. Woode, secured final City Council approval in June to transform the vacant Woods Math & Science Academy at 6206 S. Racine Ave. into The Regenerator, 48 units of affordable housing, as well as a public health clinic, pharmacy, community center and computer lab.

“It’s taken a decade to see these projects realized,” Butler said. “I’m glad we stuck with it.”

Originally Published: Aug 17, 2023 at 5:40 pm