Two Chicago-based firms, Golub & Co. and Sandz Development Co. have proposed to jointly build 62 townhomes on 2025 acres of land on the 1600 and 1700 blocks of South Prairie Ave. in the South Loop in place of an existing warehouse and parking lot, reports Chicagobusiness.com.
Two high-rise condos, the X/O towers by developer Keith Giles, were previously planned for the site. Neighbors opposed the project as being out-of-place with nearby smaller, historic buildings, and the condo market crash fueled the original concept’s demise. Tina Feldstein, president of the Prairie District Neighborhood Alliance, said “the downward spiral of the economy” has been responsible for the scrapping of the project.
The proposed townhomes will be a maximum 45 ft. in height according to an application filed with the city for a zoning change to the property. The previous plan required the towers to be 310 and 450 feet tall with 479 residential units.
“From a planning standpoint, it’s a marked improvement over what was previously proposed for the site,” said zoning lawyer John George of Schuyler Roche & Crisham PC, who represents the developers.
Plans will be unveiled a Sept. 15 Prairie District Neighborhood Alliance meeting.
Compared to the condo project, Ms. Feldstein called the townhouse project “the silver lining to the clouds of the housing bust.”
