The Chicago Plan Commission has given the nod to a redevelopment project that will deliver office and residential spaces to the River West District.
Known as 700 at The River District, the mixed-use project requires the site’s rezoning before the construction of an apartment building anchored by ground floor retail and three office buildings.
Collectively, this complex designed by local architect Goettsch Partners is expected to bring up to 330 homes and approximately 1.2 million sq. ft. of loft-type offices.
It also calls for the creation of nearly 200,000 sq. ft. of open spaces including a riverwalk and below ground parking facilities to accommodate 469 vehicles.
The site, which encompasses 640-740 West Chicago Ave. and 801-43 North Halsted St., is currently zoned M3-3 for heavy industry and DS-5 for downtown service. For the development to move forward, the zoning should be changed to DX-5.
This project is a joint venture of national multimedia group Tribune Media and Chicago-based developer Riverside Investment & Development.
It will be constructed in multiple phases, starting with a 440,000-sq. ft. office building that is slated to break ground in late 2018.
The proposal follows a City Council initiative that lifted the area’s manufacturing zoning. From being the North Branch Industrial Corridor, the neighborhood is now called River District.
To lessen traffic impact, Riverside chief executive John O’Donnell has previously revealed plans to widen the Chicago Ave. bridge and open a future access road through the Tribune’s properties between Grand and Chicago Avenues.
