Urbanize recently attended the groundbreaking ceremony for Cassidy on Canal. Located at 350 N. Canal, the development is being planned by Chicago-based The Habitat Company in collaboration with joint venture partner Diversified Real Estate Capital LLC.
“It is always with great anticipation that I look forward to this day when the shovels go into the ground and construction commences on a pioneering new development like Cassidy on Canal,” said Habitat Founder and Chairman Daniel Levin.
Designed by Solomon Cordwell Buenz, the new 33-story mixed-use tower will offer 343 new luxury apartments in addition to 1,313 square feet of retail space. Broken down into a mix of studio, one-bed, and two-bed units, renters will have access to a full package of amenities on the building’s fifth floor. Amenity spaces will include a fitness center, game room, club rooms, coworking center, spa with sauna, steam and whirlpool rooms, swimming pool with cabanas, a north and south sun deck, grilling area, fire pits, cool weather heaters, and dining areas on each deck surrounded by lush landscaping.
“To honor the location’s rich history, it was important to us to bring this neighborhood a new development that stands out through its forward-looking design and modern conveniences, yet also pays homage to the site’s legacy by keeping the Cassidy family name,” said Habitat President Matt Fiascone.
Located on the west side of Canal Street, between Kinzie and Fulton streets, the 350 N. Canal site was formerly home to the Cassidy Tire building. Habitat plans to integrate some of the property’s original bricks into the build out of the new community. The site’s location should also appeal to a wide range of renters, given its proximity to several L, bus and Metra lines, plus its high walkability to the numerous business, restaurants and entertainment options of the Loop, Fulton Market and River North.
“We’re dedicated to investing in vibrant urban locations nationally and partnering with the best local developers like The Habitat Company who have the vision and wealth of experience to bring neighborhood-changing projects to reality,” said Jeff Cherner, executive vice president, Diversified Real Estate Capital, LLC.
With McHugh Construction serving as the general contractor, caisson work was actively underway during the ceremony, creating a very active site during the festivities. With caisson work wrapping up and all permits issued, work will continue through completion. The first resident move-ins are anticipated for spring of 2024.