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  #61  
Old Posted Mar 20, 2021, 2:30 AM
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^ Great info!

Awesome news regarding the height increase of the tallest tower. 4000 units is a ton of density, but no doubt the site can handle it. The site is sandwiched between the red line subway and brown/purple elevated, and a 15 min walk from the largest CBD in the Midwest.
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  #62  
Old Posted Mar 20, 2021, 1:22 PM
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^ Great info!

Awesome news regarding the height increase of the tallest tower. 4000 units is a ton of density, but no doubt the site can handle it. The site is sandwiched between the red line subway and brown/purple elevated, and a 15 min walk from the largest CBD in the Midwest.
Love the height increase, but the location begs the question: Why so much parking?
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  #63  
Old Posted Mar 23, 2021, 7:46 PM
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Zoning app is online and there are a bunch of interesting tidbits: https://chicago.legistar.com/Legisla...vanced&Search=

- Unit increase to 2,656 units, parking ratio will be about 50%

- Another 1,372 units will be reserved for future development on the rest of Moody's campus. So, the zoning app is requesting a total of 4,028 units.

- Max building height increased to 695 ft (BVictor1, you got your wish)

- A combination of 491 on/off-site affordable units
Draft presentation is up. The only thing that's changed from the zoning app is that of the affordable units, 266 units will be for the current development phase: https://www.chicago.gov/content/dam/...draft_pres.pdf

Last edited by Randomguy34; Mar 23, 2021 at 11:43 PM. Reason: clarification
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  #64  
Old Posted Mar 23, 2021, 11:00 PM
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Originally Posted by Randomguy34 View Post
Draft presentation is up. The only thing that's changed is that of the affordable units, 266 units will be for the current development phase: https://www.chicago.gov/content/dam/...draft_pres.pdf
? There are a bunch of new renderings in there. Unless I'm mistaken and those haven't been shown before.
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  #65  
Old Posted Mar 23, 2021, 11:08 PM
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? There are a bunch of new renderings in there. Unless I'm mistaken and those haven't been shown before.
Big improvements, all around.
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  #66  
Old Posted Mar 24, 2021, 1:11 AM
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Looks amazing. Typical YIMBY stuff but wish it were taller (especially the southern buildings) and overall less parking, but this will drastically improve the area. Would also be hopeful for a less glassy redesign of the taller towers... or at least eliminate the sections of sheer glass. But I imagine a revision could come between now and 2029
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  #67  
Old Posted Mar 24, 2021, 6:37 AM
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Quote:
Originally Posted by Randomguy34 View Post
Zoning app is online and there are a bunch of interesting tidbits: https://chicago.legistar.com/Legisla...vanced&Search=

- Unit increase to 2,656 units, parking ratio will be about 50%

- Another 1,372 units will be reserved for future development on the rest of Moody's campus. So, the zoning app is requesting a total of 4,028 units.

- Max building height increased to 695 ft (BVictor1, you got your wish)

- A combination of 491 on/off-site affordable units

Yes I did, and then some.

I love the density increase and I'm loving the fact it'll be on the east side of Wells. An extended Wells Street canyon to the north with this development.

The height increases on 300 & 310 W. Oak are great! 321 W. Walton saw a height increase, as did 920 N. Wells and 878 N. Wells.

I'm keeping my eye on 205 W. Oak as it shrank, and I don't like the design.


It funny because TUP's comment in the Boom Rundown regarding Fulton Market...

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3000 apartments in one neighborhood in 3 years?

Rents are down 10-15% compared to 2019.

Unless we see a sudden, dramatic uptick in demand above and beyond pre-pandemic times, that's just preposterous. I don't see lenders coming out of the woodwork to finance that kind of volume unless and until they see evidence that they will get the kinds of projected returns that they typically expect.

And while 3000 apartment might not be built there in 3 years, I'll bet that's how many will be planned out over there.

Here we're getting about a 68 unit bump with the potential for 1,372 more in "a future phase".

The unit count went up for the Michael Reese proposal by nearly 2000 between application submission and plan commission approval. I love the bullishness...
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Last edited by BVictor1; Mar 24, 2021 at 6:51 AM.
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  #68  
Old Posted Mar 24, 2021, 5:55 PM
IrishIllini IrishIllini is offline
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Perhaps a bit of a cynical take, but could be the city thirsting for tax revenue. With the high value parcels to the west being encumbered with affordable/public housing requirements near or above 50% of total units, the city is merely shifting demand for luxury housing (and the "lost" tax revenue) to these parcels. Either way, it's nice to see the bump. Will drastically change this corner of downtown.
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  #69  
Old Posted Mar 25, 2021, 12:30 AM
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ZOOM Meeting just concluded.

Not really any new news. The developer stated they'd like to begin phase 1 work later this year.

Plan Commission date is TBD.....

Some townhomes were removed for a 2.5 acre park.

The 1300 units east of Wells is a total future phase and Moody or whomever they chose to develop will have to back before plan commission at that time. Only the bulk density for that Subarea is being approved.
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  #70  
Old Posted May 1, 2021, 12:27 AM
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On the May plan commission agenda:

A proposed Residential-Business-Institutional Planned Development, submitted by North Union LLC and The Moody Bible Institute of Chicago, for the properties generally located at 142-172 West Chicago Avenue, 800-934 North LaSalle Drive, 132-314 West Walton Street, 801-921 and 828-950 North Wells Street, 201-315 and 230-314 West Oak Street, 859-1037 and 930-1036 North Franklin Street, 210-232 West Chestnut Street, and 200-210 West Institute Place. The applicants are proposing to rezone the site from Institutional Planned Development #477 and C1-3 (Neighborhood Commercial District) to DX-5 (Downtown Mixed-Use District) and then to a Residential-Business-Institutional Planned Development to permit (i) the continued institutional use of the Moody Bible Institute and the future development up to 1,372 dwelling units on the Moody site (Subareas A and D) and (ii) the construction of a multi-building planned development consisting of 2,656 dwelling units and approximately 1 parking space per 2 residential units. A 0.57 FAR (Floor Area Ratio) bonus will be taken and the overall FAR of the planned development will be 5.57.
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  #71  
Old Posted May 1, 2021, 1:32 AM
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^ 1 parking space for 2 residential units...hmmm..

That’s not horrible, but for a dense transit rich area like that, it’s still a fairly high parking ratio
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  #72  
Old Posted May 1, 2021, 3:09 PM
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Originally Posted by the urban politician View Post
^ 1 parking space for 2 residential units...hmmm..

That’s not horrible, but for a dense transit rich area like that, it’s still a fairly high parking ratio
Did Moody request all that parking? I just can't get over the ratio given the location.
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  #73  
Old Posted May 1, 2021, 4:51 PM
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Hopefully they do it like One Chicago where it's convertible later
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  #74  
Old Posted May 5, 2021, 2:08 AM
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Much of the parking is underground (unusual for Chicago) so I don't know what they would convert it to. Only a few buildings have real parking podiums.
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  #75  
Old Posted May 19, 2021, 4:23 AM
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  #76  
Old Posted May 19, 2021, 2:48 PM
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Much of the parking is underground (unusual for Chicago) so I don't know what they would convert it to. Only a few buildings have real parking podiums.
data centers, last mile ecommerce warehouse, car dealer storage, storm water retention when the ice caps melt
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  #77  
Old Posted May 19, 2021, 10:19 PM
Briguy Briguy is offline
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Talking

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Much of the parking is underground (unusual for Chicago) so I don't know what they would convert it to. Only a few buildings have real parking podiums.
JDL fresh off their top down one Chicago parking garage has the UNDERGROUND PARKING FEVAH!

One Walton has below grade as well.

Man they really love a lot just west of state

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  #78  
Old Posted May 20, 2021, 5:39 PM
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APPROVED BY PLAN COMMISSION

-commissioners praised the project.

-Alderman Tunney bitched about the height of the north towers, but supported the project in the end.


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  #79  
Old Posted May 20, 2021, 11:30 PM
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This is not Tunney. It's 27 - Burnett. Love that old town gerrymander mess. Tunney is east Lakeview.
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  #80  
Old Posted May 21, 2021, 4:40 AM
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Awesome news!
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