NEAR NORTH SIDE — The Near North Side will soon be home to a new 21-story residential building with retail on the first floor.
The City Council on Tuesday approved plans by developer Vista Property Holdings to build the development at 739-755 N. Wells St.
When finished, the project will have 178 units, 7,530 square feet of commercial space and 53 parking spaces, according to developers’ plans.
Under the affordable housing ordinance, 18 units are required to be priced affordably, but developers will provide just five units at 60 percent of the area media income and pay a $2.4 million fee in lieu of the remaining 13 units, according to developers’ plans.
Jake Wittich is a Report for America corps member covering Lakeview, Lincoln Park and LGBTQ communities across the city for Block Club Chicago.