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In 2024, Tree Street partnered in a Joint Venture with Fulton Street Companies (‘FSC’) to revise the previous development program to drive efficiency.
Tree Street and FSC presented the revised development plan to the Chicago planning department in March 2024 with resulting zoning amendment approved in April 2024, achieving a minor amendment in less than 3 months. The design revisions that WDG brought to the table were an approximate $35M boost to the project, from non-economically viable to a successful vibrant development. The revisions created a vibrant plaza, added 9,000sf retail space and locates that retail along Fulton Market Street. The overall vibe of the community is greatly enhanced by the design changes.
Plaza featuring 9,000 sf of retail space
The Project is poised to capture significant demand for luxury multi-housing as job and population growth within Fulton Market continues to accelerate with the delivery of 433 units, 120 parking stalls, street level retail and the creation of a landscaped plaza. Of the 433 units, 87 will be affordable.
The development is pursuing a geothermal energy system that will provide 80% of the buildings’ heating and cooling needs. The system will have approximately 94 closed loop geothermal bores that will connect to buildings heating and cooling system heat pumps. The heat pumps will use the geothermal heat exchanger to move heat to and from the building throughout the year to the earth below.
