A foundation permit has been issued 344 N. Canal. Formerly the site of the current Cassidy Tire Building, the new project will occupy the now cleared site which sits just south of W. Kinzie St in the Fulton River District. Planned by Chicago-based The Habitat Company, the developer announced the acquisition of the property and joint venture with Diversified Real Estate Capital LLC back in February. Demolition permits were issued in May with work now complete on clearing the previous structure.
Designed by Solomon Cordwell Buenz, the new mixed-use tower will rise 33 stories while holding retail and residential space. Rising 375 feet, the building will include 343 units, with a mix of studios, one-beds, and two-beds. Parking for 123 cars will be located on the second through fourth floors, with 185 bike parking spaces included on the ground floor.
Residents will access the building through a residential lobby that fronts N. Canal St while also facing an internal motor court that occupies the north end of the site. A small retail space measuring approximately 1,400 square feet will occupy the remainder of the main street frontage. Residents will have access to a robust package of indoor and outdoor amenities throughout the building.
With demolition completed and a foundation permit issued, groundbreaking is imminent for the new tower. McHugh Construction is serving as the general contractor for the project.