Sterling Bay representatives joined by Mayor Rahm Emanuel and Alderman Burnett today to break ground on the 12-story office with commercial space in the hot Fulton Market District.
We would like to congratulate Sterling Bay on this great project that not only will bring jobs and economic growth to the neighborhood but will activate Lake Street.
WCA approved the project based on:
Transit-Oriented & Mixed-Use Development- The proposed development will contribute to the WCA/MPC study and City of Chicago’s goals for greater economic vibrancy near transit site’s as well as greater density west of the Loop. Additionally, the development adds more parking than required under the TOD ordinance with two above-grade parking levels, creating a user-friendly, mixed-use experience for tenants and patrons.
Setbacks- northern setback along the alley will enhance tenants’ experiences and provide relief to neighboring buildings. This demonstrates Sterling Bay’s sensitivity to its neighbor and the community.
Contribution to Funds- Sterling Bay will pay approx. $1,593,636 into the City of Chicago’s Neighborhoods Opportunity Fund and $199,205 into each of the Citywide Adopt-a-
Landmark and Local Impact Funds.Lake Street Lighting – The committee requests Sterling Bay improve the exterior lighting to ensure that there is significant illumination on Lake Street, as the pedestrian experience and pedestrian safety in this burgeoning neighborhood are of paramount importance.
