River North Condo Developer Thinks Big...ger?

Akara Partners CEO Rajen Shastri has temporarily put his 14-story development at 100 W Huron on hold. Now, he's thinking of making it even bigger. Going taller would involve a lot of hurdles and negotiations, but Shastri may have a way around that. Shastri was vague about his idea, saying it involves a more efficient floor plate, which could mean reduced hallways and storage, Crain's Chicago Business reports. He also said higher-density residential and commercial use are possibilities. In 2013, Shastri led a venture that paid $3.7M for the site, a parking lot at the time. Sales for the Booth Hansen Architects-designed units launched in October 2014. Some units had already been reserved for buyers. [CCB]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Bringing Stability And Savings To CRE Insurance Through Working Layer

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Miami's Condo Craze Has Developers Spending Millions On Sales Galleries

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project

Ryan Cos. Secures Permit For Austin's Sixth Street Redevelopment

Rapper Rick Ross Joins 670-Unit Miami Gardens Condo Project

How A New Financing Model Helps Spur More Mixed-Income Housing

Riverwards Group Secures Construction Financing For 155 Units In Olde Richmond

While Chicago Development Stalls, Fulton Market Keeps Building