Wolf Point 1832
I follow news of this proposed new construction at Wolf Point quite closely as it is only a few blocks from me. The current plan calls for 1,200 parking spots – which means an area with limited traffic flow is going to get more congested. Additional feet of river walk areas will be pleasant. Ideally, there would be just a huge park right there instead, but that’s not realistic. I’m neutral on the proposed plan – I’m sure it will change a bit before the buildings are completed.
I’m also pleased that the developers are not requesting public subsidy dollars to build it, at least at the moment.
Developers-give-first-glimpse-of-proposed new buildings
Blair Kamin of the Trib mostly likes it:
Touting what would be downtown Chicago’s largest new real estate development since the 2008 financial crisis, representatives of the Kennedy family and three financial partners are providing the first glimpse of a proposed three-tower office and apartment complex on a historic but long-underutilized site along the Chicago River.
The project, whose cost is pegged at more than $1 billion, calls for a slope-roofed office building of 925 feet, which would be Chicago’s eighth-tallest structure. Another office building and an apartment high-rise would bring the project’s combined square footage to nearly 3 million square feet, more than the biggest skyscraper of the boom years, the 2.6-million-square foot Trump International Hotel & Tower.
The plans, made public at a community meeting Tuesday called by Ald. Brendan Reilly, 42nd, and attended by more than 300 people, are for the triangular Wolf Point parcel to the southwest of the Merchandise Mart. The Kennedys sold the Merchandise Mart in 1998, but still control Wolf Point, once home to pioneer taverns, a hotel and trading posts.
…the new project, whose developers are not requesting a public subsidy, would dwarf River Point. Its highest tower, whose prow-like edge would jut toward the river at Wolf Point’s south end, would rise to a height of 925 feet.
The other office tower, projected to be 700 feet tall, would occupy the site’s eastern flank, next to the Merchandise Mart.
Completion of the skyscrapers, which would be marketed to law firms, corporations, professional service firms and tech firms, is not envisioned until 2018 for the south tower and 2020 for the east tower.
(click here to continue reading Developers give first glimpse of proposed complex at Wolf Point at junction of Chicago River branches – Chicago Tribune.)
Kevin Dickert of Curbed Chicago adds:
Kenig, Lindgren, O’Hara, Aboona (KLOA) conducted the traffic study on behalf of the developer. In collaboration with CDOT, it focused on six intersections. Without delving into too much detail, the study concluded that area traffic will be negatively impacted by the addition of these buildings. However, the added congestion will be mitigated to some degree by the site’s proximity to a myriad of transit options. The CTA stop at Merchandise is within a few blocks. The Olgilvie Transportation Center is less than a mile away. And there are numerous CTA buses routes. KLOA suggested alternatives such as biking to work or using car-sharing programs to lessen traffic impacts.
Here are some other tidbits we gleaned from the meeting: The project will create an investment of over $1 billion in Chicago. It will add around 1,000 feet of riverwalk. Landscape architects want to reorient the riverwalk so that pedestrians are not separated from the immediate riverside by a layer of foliage, as is currently the case. To this end, a bulkhead will be installed. We were assured that no parking structures will be visible. There are also plans for terraced seating with grasses and plantings similar to the portion of riverwalk at State and Wabash. Lastly, before the development can proceed, a change must be made to the existing zoning governing the property. Jack George, real estate attorney working on the project, said he plans to file the amendment with City Council today.
(click here to continue reading Renderings Revealed and More at Wolf Point Meeting – Development Update-O-Rama – Curbed Chicago.)