Look for more cranes in the air soon in Streeterville. The city issued a construction permit for Jupiter Realty's 535-foot-tall multifamily skyscraper at 465 North Park Drive, and construction looks to be underway. Things sure move fast in downtown's hottest multifamily submarket.
Jupiter revealed its plans for the site last year. When the building is completed, it will house 444 units, 12k SF of retail, a communal deck on the 37th floor and expansive amenities on the fifth floor.
Jupiter worked with Ald. Brendan Reilly (42nd) and neighborhood groups to tweak the building's design. The firm reduced the number of parking spaces to 181, since most of the prospective renters won't have a need for cars. The tower's overall footprint was narrowed—the top 11 floors of the building occupy less than 20% of the site area.
Nearby Ogden Plaza Park will receive a $3.5M makeover, fulfilling a request from Reilly that the tower's construction have a public benefit. Streeterville residents raised concerns to Reilly about the neighborhood's lack of public space.
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