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Habitat Plans Apartment Tower in Fulton River District

Habitat plans to unveil its proposal for a 33-story apartment tower in the Fulton River District at a Dec. 9 meeting hosted by Ald. Brendan Reilly, Crain’s Chicago Business reported. The developer wants to build the 343-unit high-rise at 344 N. Canal St., on the current site of Cassidy Tire & Service.

Crain’s reported that the plan is moving ahead amid a strong but slowing downtown apartment market. Rent growth has ebbed, although worries about a glut have subsided as developers have cut back on construction, according to Crain’s.

Habitat is betting that strong job growth in the neighborhood will spur demand for its apartments, Crain’s reported. Its proposed building isn’t far from the fast-growing Fulton Market District, and is also near Wolf Point, where Salesforce will anchor an office tower planned by a venture of Hines and the Kennedy family.

Photo: Rendering courtesy of Ald. Brendan Reilly


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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