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Vornado wants to be the latest player in the multifamily sector in and around downtown, adding to an already packed pipeline.
Vornado has owned a parking lot at the southwest corner of Kinzie and Canal streets for over 20 years. That lot is zoned so Vornado can build a 30-story, 228-unit tower, but it could seek a zoning change to build a larger tower, according to the Tribune.
Vornado is mum about its actual plans for the parking lot but the success of Wolf Point West and the under-construction Wolf Point East may be too good for the firm to not jump into the multifamily pool, even as over 12,000 new apartments are being delivered to the downtown inventory through 2019. The site is also located to capitalize between River North and Fulton Market, two of downtown's busiest submarkets of construction activity.
