Construction of a 12-story mixed-use development in Greektown is underway after the Buildings Department issued a construction permit for Loukas Development's The Van Buren, which will consist of 148 rentals and ground-level retail.
Loukas bought the 25K SF site across from the National Hellenic Museum last May for $7.4M. Greektown is receiving more interest from multifamily developers as their options for new apartment projects in neighboring Fulton Market are being limited by aldermen. The Van Buren joins Fifield Cos.' 727 West Madison among the higher-profile Greektown developments in the pipeline.
The 186K SF development secured a foundation permit in April and caissons were installed and a tower crane was erected in anticipation of the building permit issuance. The work covered by the construction permit is valued at $20M. Lendlease is the general contractor, and bKL Architecture is the architect of record. The Van Buren is expected to be completed in late 2018.
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