This month the Plan Commission will review a project led by VISTA Property Group that will redefine the Fulton Market skyline. In collaboration with Gensler, the designer, the project's design targets the elevation of the district's current landscape of low-rise industrial constructions and surface lots.
Situated strategically at 370, 400, and 401 N Morgan Street, the project's master plan boasts of three striking mixed-use towers, together offering 1,450 units. Beyond just residential spaces, these structures propose a harmonious blend of retail, parking, and public areas. Plus, in a nod to history, they will integrate and repurpose existing edifices like the Morgan Manufacturing building and a quaint low-rise at 413 N Carpenter.
Phase One: Modern Living meets Commercial Brilliance
Starting with the southmost tower, 370 N Morgan aims to touch the sky at 399 feet and will include:
- 34 stories
- Housing 492 residential units
- 10,000 square feet of prime retail space on ground floor
- Podium parking for 142 vehicles
Not far behind in grandeur is the 400 N Morgan tower which will climb to 450 feet and will include:
- 41 stories
- 478 residential units
- 4,800 square feet of retail space
- Parking area for 123 cars
Chicago Yimby states that unique to this structure is an outdoor deck atop a parking garage ramp leading to three parking levels, alongside a dedicated amenity space on the seventh floor, featuring expansive outdoor decks.
A Glimpse into the Second Phase
The third tower, located at 401 N Morgan, is an exciting enigma. Early drafts hint at a 45-story architectural wonder scaling 475 feet. The tower will include the following:
- 480 residential units
- Retail niches
- 65 space parking lot
- Lavish lobby and amenity area on ground floor
This tower dedicates a sizable portion of its blueprint to public greenery, promising a park that stands as a testament to urban community life.
Enriching Public Spaces
VISTA doesn't just stop at constructing buildings; they're crafting an experience. The developers envision outdoor plazas dotted with expertly chosen sculptures and captivating public art. In addition, pedestrian pathways will be meticulously planned, intertwining beautifully with retail and residential entry points, invigorating foot traffic.
Transit and Accessibility
The development's prime location ensures multiple transit options. A slew of bus lines like Routes 8, 20, 56, and 65 can be accessed effortlessly. Plus, for those relying on the rail system, the Green and Pink Lines’ Morgan Station is just a brisk five-minute walk away.
Navigating the Zoning Landscape
Transitioning the current zoning setup to a unified DX-7 designation is imperative for this grand vision. To meet the required Floor Area Ratio (FAR) within this category, a generous $13.9 million is set to be contributed to the Neighborhood Opportunity Fund by the developers. Of course, endorsements are awaited from critical city departments, with the construction timeline yet to be disclosed.
VISTA's monumental project reflects the district's ongoing metamorphosis. Once a bustling hub for meat and produce packaging, the Fulton Market of today resonates with contemporary vibes, housing chic offices, residences, and eateries. The region's ability to maintain high rental values for both commercial and residential spaces, even amidst a pandemic, showcases its resilience and allure.
In conclusion, as VISTA Property Group and Gensler bring their ambitious project to life, it's clear that the Fulton Market's rich history will beautifully meld with modernity, crafting a vibrant future for the district.
DataBid is currently reporting on this project - North Morgan Street Mixed Use Development Fulton Market District - Chicago (0041121922)
