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Two Development Ventures Eye Fulton Market Projects
The COVID-19 crisis isn’t keeping developers away from Chicago’s Fulton Market District. Crain’s Chicago Business reported that a venture including Thomas Roszak and Michael Moceri has filed plans with the city for a 27-story, 383-unit residential tower at the northwest corner of Randolph and Elizabeth streets.
Separately, Crain’s reported a filing from another venture for a Fulton Market project. Marc Realty and Chicago investor Relu Stan are planning a 296-key hotel along Wayman Street between Sangamon and Peoria streets.
Roszak and Moceri are currently developing Parkline, a condominium and apartment tower one block west of Millennium Park. While Chicago’s residential market was booming last year when the developers broke ground on Parkline, Crain’s reported that Fulton Market is no longer a sure bet.
The Marc/Stan hotel project similarly represents a gamble that hospitality will rebound in a big way in Fulton Market once the pandemic subsides, Crain’s reported.
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