“That’s a seismic shift in the development pattern of Chicago, and we’ll see whether that has a long-term effect on other developed areas, whether the Loop itself or River North.” “There’s been a huge amount of work going on in Fulton Market,” Kent said. The city has had significant development along transportation corridors, something city leadership is pushing for, and in Fulton Market. Two of the firm’s most notable recent projects are a 444-unit high-rise at 465 North Park Drive and Wolf Point East, which brings almost 700 units to the convergence of the north and south branches of the Chicago River. “Chicago has shown that it’s pretty resilient.” “A lot of those projects came roaring back,” he said. Tim Kent, a partner at Pappageorge Haymes Partners, said projects slowed in 2020 and picked back up as the pandemic eased. “Remote and hybrid work schedules don’t seem to have affected someone’s desire to live near the downtown core,” Kerwin said. He noted that the 2020 census showed a slight uptick in Chicago’s population, which he said indicates that people still want to move to the city. The Loop is the hub of the firm’s business, and Kerwin is seeing more permits in the West Loop for major structures. “Demand kept up with escalation,” he said. Kerwin said most projects are going ahead, even after costs rose because of supply-chain issues. Among bKL’s most notable ones is the $150 million Cascade Chicago, a luxury apartment building at 455 East Waterside Drive Lakeshore East that was the city’s priciest. Tom Kerwin, founding principal of bKL Architecture, said his projects during those years totaled $1.65 billion in hard construction costs. Remote and hybrid work schedules don’t seem to have affected someone’s desire to live near the downtown core. Those projects include new construction of buildings higher than 80 feet, non-residential projects exceeding 150,000 square feet, residential projects with 50 or more units, schools more than 60,000 square feet and projects with two or more basement levels. Click here to see a map of every permit approved since 2017. TRD pulled permit data from Chicago’s open data portal and looked at all new construction permits reviewed. Mapbox map created by Adam Farence | © Mapbox © OpenStreetMap
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |