Related Midwest and Tucker Development have cleared a key hurdle for their plan to build a 300-unit, 43-story apartment tower in booming Fulton Market.
Original plans for the project called for a condominium tower. In addition to the change to rentals, the current project now includes a substantial number of units set aside for affordable housing.
The city Planning Commission this week approved the $215 million rental project at 906 West Randolph Street, which includes 60 affordable units. That’s about double what is mandated under the city Affordable Requirements Ordinance. The plan will now move to the zoning committee before the City Council will vote on it.
Since it was proposed in October 2017, the development group has shaved eight stories off the project, converted the tower to rentals and cut the number of parking spaces from 300 to 75. The 475-foot-tall tower is now 100 feet less than the original plan. It would still rise over the rest of the buildings in the trendy neighborhood, though new towers are being proposed. It also includes ground-floor retail.
The developers will also pay $4.87 million into the city’s Neighborhood Opportunity Fund, according to the city.
Curbed first reported on the planning commission approval.