After failing to win over downtown Ald. Brendan Reilly on its first try, Chicago developer Related Midwest is ready to unveil a second proposal for a big two-tower project at Lake Shore Drive and the Chicago River.
Related Midwest has dropped plans for a hotel within the project at 400 N. Lake Shore, which would include 1,000 residential units, according to an email Reilly (42nd) sent to constituents this afternoon. The developer, which will present the revised plan at a March 10 public meeting, also has reduced the project's height. Under the new proposal, the two buildings will rise 875 feet and 765 feet, down from 1,100 feet and 850 feet, Reilly wrote.
The alderman rejected Related Midwest’s first plan for the property, best known as the site of the unbuilt Chicago Spire, in October 2018. That proposal included a 175-room hotel and 300 condominiums in the taller tower and 550 apartments in the shorter one.
Reilly asked Related Midwest to remove the proposed hotel, shrink the podium under the two buildings and address his concerns about traffic.
“Over the past several months, the developer has worked to address the many significant concerns about the hotel use, the tall podium base of the buildings, traffic concerns for East North Water Street, and security issues on the Riverwalk and at DuSable Park,” Reilly said in the email.
The email didn’t say Reilly supported the revised proposal, but it’s unlikely he would host a second meeting on it unless he felt comfortable with it.
A Related Midwest spokeswoman declined to comment. The company is also developing the 78, the massive mixed-use development in the South Loop anchored by the Discovery Partners Institute, a research center led by the University of Illinois.
Related Midwest will present its new plan for the Lake Shore Drive project at community meeting at 6 p.m. March 10 at the InterContinental Chicago hotel.
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February 29, 2020 at 07:32AM
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Related Midwest to present new plan for Chicago Spire site - Crain's Chicago Business
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