Fifield's Gold Coast Apartment Project Gets Financing
The Sinclair, Fifield Cos' long-delayed Gold Coast apartment tower, is moving forward now that the company's secured $230M in financing for the project at 1200 N Clark. Crews will begin clearing the site next week in order to break ground on the project.
Fifield wants to build a 35-story, 390-unit building on the site, anchored by a 55k SF Jewel-Osco supermarket. But getting to this point hasn't been easy. Fifield requested a zoning change just as the site was mapped into the 2nd Ward with the recent ward remapping, and Fifield had to negotiate the zoning change with former Ald Bob Fioretti.
The Sinclair apartments will range from one- to four-bedroom units, with more than 55k SF of amenity space. Fifield expects to start leasing units in 2017, but with over 7,000 apartments expected to be delivered in the next two years (including Fifield's NEXT apartments in River North), it's unknown what the market will be then.