A new mixed-used development in the Loop now has the go-ahead from the city. The Chicago City Council has unanimously approved a zoning change that will help usher in a $350 million mixed-use development.
The plan calls for a pair of towers consisting of a 23-story building and a 36-story building. The two will be connected by a parking and commercial base on South Wabash Street.
The two towers will house more than 700 rental units and more than 300 hotel rooms. The property will also bring in tens of thousands of square feet of commercial space on the first two floors of each building.
Some of the units will be affordable units in studio, one-, two- and three-bedroom layouts. They help meet the city’s requirements for new construction,…