New details have emerged on a project the Chicago Tribune is calling this one of Chicago's most ambitious development proposals in decades.
"A Chicago developer wants to build 2,680 residential units on the Near North Side, one of the most ambitious proposals in the city in decades," reports Ryan Ori.
The developer, JDL Development, is proposing three towers, rising 587, 512 and 500 feet tall, on 8.1 acres that are currently owned by the Moody Bible Institute.
"The Tribune in February reported JDL had struck a deal to buy the land from Moody, contingent on winning zoning approval. In September, the Tribune reported JDL was expected to seek approval for thousands of residential units, but Letchinger declined to reveal the exact scope of the project at the time," according to Ori.
"The project would include rental apartments, condos and low-rise residences such as town homes. The project will create 236 affordable units on-site and 110 off-site," according to Ori, in addition to 30,000 square feet of retail space and 1.3 acres of open space.
The project will begin public meetings in November. The source article also includes a comparison to other large development residential projects entitled or completed in Chicago recently. For those keeping track of planning history, the location is just to the east of the former location of the Chicago Housing Authority's Cabrini Green public housing complex.
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