Sterling Bay has proposed a new, 13-story office building at the northwest corner of Lake Street and Carpenter Street (they’re using the address 210 N Carpenter St.). It’s 350 feet away from the CTA’s Morgan Green Line station, putting it squarely in a transit-oriented development (TOD) zoning area.
The building would have 94 car parking spaces on the first two floors. There would be 12,500 square feet of restaurant or retail space. There’s approximately 206,000 square feet of office space. They developer anticipates achieving LEED Silver certification; SCB is the architect.
Sterling Bay needs a zoning change from C1–2 to DX-5, which will become a Planned Development, to support an 8.1 FAR. To be able to achieve their height and density, they have to pay $2 million in to the Neighborhood Opportunity Fund.
The West Loop Community Organization and 27th Ward Alder Burnett are hosting a meeting tonight at 7 PM at the Merit School of Music located at 38 S. Peoria Street.
The Neighbors of West Loop group has already commented on the project, suggesting that it be shorter and have more parking, preferably underground so that the building would be shorter. The group also asked that the developer subsidize some of the retail space and set an affordable rate so local businesses can remain in the neighborhood.
Building a shorter building or building more car parking, or both, would have consequences on the developer’s ability to subsidize space in the building, and it would increase their costs per leasable square foot.