A massive residential project in Chicago promises new apartments including affordable housing in three towers
Plans have been unveiled for a mega-development that will bring 1,500 new apartments to the Fulton Market District of Chicago after a megadevelopment was given approval by the Chicago City Council on Thursday. This ambitious project is poised to reshape the area and provide much-needed housing options for residents.
Vista Properties, a New York developer was given the go ahead to begin work on three mixed use towers. The new structures will be located at 401 N. Morgan St. 400 N. Morgan St., and 370 N. Morgan St. These towers will include 480 apartments, 478 apartments and 492 apartments respecively. Layouts will include studio, one bedroon and two bedroom apartment homes.
Each building will include retail space on the ground floor and there will be 317 parking spaces split between the three towers. Of the 1500 apartments, almost 300 of them will be affordable units.
It is hoped that the project will be a catalyst for further growth in this area, attracting both residents and business people to this part of Chicago.
Chicago's Fulton Market has undergone a remarkable transformation in recent years, evolving from an industrial hub to a sought-after destination for dining, entertainment, and tech companies. This mega-development aligns with the district's ongoing revitalization efforts, positioning it as a prime location for both living and working.
Since 2020 when the ban on residential development occuring north of Lake Street was lifted, Fulton Market has seens a burst of apartment construction. By the end of this past June, about 1,400 apartments were being constructed, with all scheduled to be completed by the end of 2024.