Sterling Bay gains approval for Fulton Market apartment tower

The Chicago Plan Commission has approved plans for a new apartment tower in Fulton Market. The developer, Sterling Bay, aims to invest about $300 million to build the high-rise at 350 N. Morgan St. This project will introduce nearly 12,000 square feet of green space to the area, which is mainly industrial. The proposed 39-story building is set to feature up to 573 apartments, with 115 of them being affordable housing. These affordable units will target families, helping key workers live near where they work. The area has seen a population increase, prompting the shift from an original plan for an office building to residential units. Sterling Bay’s plans include various unit sizes, from studios to three-bedroom apartments. The ground floor will have commercial space, likely a restaurant. Residents will enjoy amenities like a dog run, a pool, and a fitness center on the fifth floor. The commission also approved the conversion of an office building on Michigan Avenue into 49 apartments, with some being affordable. This site, called the Graphic Arts Building, has seen its occupancy drop significantly in recent years. Additionally, Bickerdike Redevelopment Corp. received initial approval for another development in Edgewater. This project would build an 11-story tower with 90 affordable units, with tax credits from the city to support it. Construction could begin later this year.