WEST LOOP — A developer’s plan to bring more than 1,000 apartments east of the Kennedy Expressway in the West Loop received key city approval Thursday.
The city’s Plan Commission Thursday gave the green light to Jamal Properties’ plan to build two apartment towers at 601 W. Monroe St. One will be 47 stories tall and the other 40 stories.
The vote means the developer is one step closer to building the mixed-use development with 1,053 residential units and commercial space.
Under the plan, Jamal Properties, which is affiliated with Candian-based developer Pacific Reach Properties, would build the development in two phases. The developer would first build the 47-story, 535-foot tower that includes 537 residential units, 400 parking spaces and ground-floor commercial space.
In the second phase, a 40-story, 465-foot tower would be built and include 516 residential units, 30 parking spaces and ground-floor retail.
The buildings include studio to four-bedroom units. Rental prices will be determined by the market, the developer told the Plan Commission.
Jamal Properties will build on-site 26 of the 105 affordable units required by the city’s Affordable Requirements Ordinance. The developer will pay a $14.8 million “in lieu” fee for the remaining units.
The site is currently used for surface parking. The towers, designed by Solomon Cordwell Buenz, would be located next to Heritage Green Park.
Jamal Properties adjusted the initial plan to add a public dog park and wider sidewalks along Desplaines Street following community feedback, the developer said.
The developer will contribute $5.4 million to the City’s Neighborhood Opportunity Fund in exchange for added density.
The project needs approval from the city’s Committee on Zoning and City Council to move forward.
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