The Chicago Plan Commission passed the proposal from Crescent Heights to redevelop a parking lot at 640 W. Washington Boulevard into a 515 foot tall apartment tower. The downtown project is located between the Chicago River and the Kennedy Expressway in the West Loop Gate.
An article in Block Club Chicago stated that the project would add to the development boom in the West Loop and Fulton Market, but still needs the approval from the city's zoning committee and City Council before developers can break ground.
The project on Washington Boulevard calls for developer Crescent Heights to replace the longtime parking lot with the following:
- 47 story high-rise containing up to 413 apartments
- A two-story lower podium
- A three-story upper podium
- Terrace on the third floor
- A garage with 137 parking spaces and 217 bicycle spots
- A porte-cochere below the building to move loading off surrounding streets
- 8,000 square feet of ground-floor retail space
According to the city, Crescent Heights will include 10 affordable units in the development and will pay $5.7 million in "in-lieu" fees to satisfy the remaining affordability requirements.
If everything gets approved, it would join a growing number of new residential towers flanking the Kennedy Expressway in the West Loop. Recent projects in the area include the Parker Fulton Market, 727 W. Madison and an upcoming Equinox-branded hotel and apartment high-rise.
LOOKING FOR MORE MIXED-USE PROJECTS IN THE CHICAGO AREA?
Earlier this year Crescent Heights acquired the 35,000 square foot parking lot that is bordered by the expressway, Desplaines Street, Washington and Court Place. The Miami based developer paid $20.1 million to Matthew Pritzker Co., which is headed by Governor Pritzker's cousin.
Urbanize Chicago reports that the building was designed by Chicago-based Hartshorne Plunkard Architecture. The slender tower will rise on the western edge of the site. A low-rise portion to the east will contain 20,000 square feet of amenities.
The development's 413 apartments will include:
- Studio floorplans
- One-bedroom floorplans
- Two-bedroom floorplans
- Averaging between 650 and 700 square feet in size
Crescent Heights is a national developer with a growing footprint in many major cities including Los Angeles. In Chicago, the company recently completed the 76-story, 800 unit NEMA Chicago apartment tower in the South Loop. Crescent Heights has plans for a second, taller "phase two" skyscraper next door, but is prioritizing the 640 Washington site for the time being.
DataBid is currently reporting on this project: 640 West Washington Boulevard Mixed Use Development - Chicago (0048121120)
