October 25, 2012 by Sarah M
Chicago-based developer Magellan Development Group has started construction on a 36-story apartment tower in Loring Park — the largest residential project in the pipeline for the downtown area.
The high-rise at 1369 Spruce Place will have 354 apartments and many amenities for residents, including a fitness center, pool, hot tub, and a private in-building dog run with a washing station, among other things, according to a news release from Magellan.
City Council Member Lisa Goodman (7th Ward) has high praise for the $100 million-plus project.
“What a great opportunity to add housing to the Loring Park neighborhood downtown, just at a time the vacancy rate is at an all time low,” she said. “This is a beautifully designed building that will add to the skyline as well as adding much needed construction jobs in a great location. I’m thrilled this long awaited project is financed and about to start construction.”
David Carlins, president of Magellan Development, said the tower will be designed to achieve LEED certification.
— Sarah McKenzie