Fulton Market developer creating a life sciences campus, including neighborhood’s first public park

Trammell Crow is constructing a campus of buildings in Chicago’s Fulton Market neighborhood. The Flora Apartments tower on West Carroll Avenue is seen at center on April 29, 2024. A big slowdown in apartment construction will soon mean fewer options and higher rents for Chicago renters, but developer Trammell Crow said it is preparing to open a new apartment tower in the heart of Fulton Market, among the city’s most vibrant neighborhoods.

The company secured financing in 2022 for Flora Apartments, located one block south of its new life sciences and research tower at 400 N. Aberdeen St., just before rising interest rates and construction costs put a squeeze on new rental development. Twenty percent of the units will be reserved as affordable.

Even with the slowdown, Trammell Crow isn’t the only developer with an apartment project underway. Earlier this year, Shapack Partners, CRG and KMW Communities started construction on 220 N. Ada St., a 308-unit tower several blocks west of Flora Apartments. It’s a welcome move, said Damone Richardson, a Coldwell Banker broker and Fulton Market resident since 2010.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Enjoy a soulful twist on Sunday brunch at Lizzy J Cafe in Fulton MarketApril is National Brunch Month, and if you are looking for some great comfort food for breakfast, look no further than Lizzy J Cafe.
Source: ABC7Chicago - 🏆 284. / 63 Read more »

Chicago street in Fulton Market named one of most expensive in AmericaA Chicago street in Fulton Market has earned an interesting title, with a study naming it one of the most expensive in the entire country.
Source: nbcchicago - 🏆 545. / 51 Read more »

Stock market today: Asia stocks rise with market focus on signs of interest rate cutAsia stocks are mostly higher, with investors mainly focusing on a U.S. inflation report and what it means for interest rate cuts by the Federal Reserve. Oil prices advanced while U.S. futures were mixed. The yen weakened, coming close to a 34-year low.
Source: AP - 🏆 728. / 51 Read more »

TON Defies Market Sentiment With a Massive 23% Surge, BTC Slumps Toward $70K (Market Watch)Crypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

IPO market continues to open up, market downdraft be damned, but higher rates loomSuddenly, there is real money appearing in the IPO world. Next week, over $1.25 billion is scheduled to come to market, led by Rubrik.
Source: CNBC - 🏆 12. / 72 Read more »