WEST LOOP — Plans for a 27-story apartment building and a nine-story office building in the West Loop moved one step closer to realization after a key city vote.
The Plan Commission Thursday approved architect-developer Thomas Roszak and business partner Dan Moceri’s plans for a 27-story building at 160 N. Elizabeth St. The building will be 292 feet tall.
The $140 million project would replace the Gateway Auto Service garage and a cluster of low-rise brick buildings fronting Randolph Street with a 375-unit apartment building.
Twenty percent of the units will be set aside as affordable housing. Of the 9,000 square feet of retail in the project, 20 percent would be set as affordable, according to the city.
The project would send $3.4 million to the city’s Neighborhood Opportunity Fund in exchange for added density. The fund is used to help finance projects outside of Downtown.
The Plan Commission also approved New York-based Thor Equities’ nine-story office building a block away at 1229 W. Randolph St.
The 120-foot-tall building will feature a dark brick exterior, multiple outdoor terraces and a “cafe-type retail space” at the corner of Randolph Street and Willard Court. Chicago-based architecture firm JGMA designed the building.
Thor Equities will pay $235,000 into the city’s Neighborhood Opportunity Fund.
The two projects will need approval from the Committee on Zoning and the City Council before moving forward.
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