Foundation Permit Issued For Wolf Point East
The Wolf Point JV of Hines Interests and Chris Kennedy have been bullish on building luxury apartments on Wolf Point. Construction on the $360M project is set to begin after the city Buildings Department issued a construction permit for the development. The success of Wolf Point West led the JV to call an audible and switch from making Wolf Point East a mix of apartments and offices to strictly apartments.
The first part of construction covers building Wolf Point East's foundation and six levels of below-ground parking, and is estimated to cost $60M. The tower was originally zoned to rise 750 feet and contain 707 units. It will now top out at 660 feet and include 698 units. There will be a small amount of retail, about 3K SF, and a landscaped public riverwalk will be extended, connecting Wolf Point West and East.
The Hines-Kennedy JV will likely add density to the development's third phase, Wolf Point South. Another feature of the project is a traffic lane on Orleans, between Kinzie Street and Wolf Point, that will provide easier access to expressways.