Chicago-based Habitat, a leading U.S. multifamily developer and property manager, has started pre-leasing for Cassidy on Canal, a new 33-story, 343-unit Class A rental tower at 350 N. Canal St. in Chicago’s Fulton River District.
Cassidy on Canal features multiple apartment layouts across a mix of studio, one-, two-bedroom, and penthouse units, plus 1,313 sf of ground-floor retail, parking for 123 vehicles, and an outdoor dog run just northwest of the building.
The amenity package is highlighted by a 10,000-sf outdoor deck off the building’s fifth floor, with landscaped grounds, a pool, lounge seating, fire pits, grilling areas, cool weather heaters, and dining areas. The fitness center will offer residents practice studios, a game room, various club rooms, a coworking center, and a spa with sauna, steam, and whirlpool rooms.
PROXIMITY TO CHICAGO'S RIVERWALK
“Cassidy on Canal brings the best Chicago has to offer right to its doorstep with its proximity to the riverwalk and the numerous businesses, restaurants and entertainment options of the Loop, Fulton Market and River North areas,” said Habitat President Matt Fiascone. “Compared to the higher density of Fulton Market to the west, Cassidy is nestled in this protected sweet spot with the river to one side and train lines to the other, filling a void in the immediate neighborhood for a modern, highly amenitized rental option.”
FORMER HOME OF CASSIDY TIRE COMPANY
Rents will range from $2,550 to $5,660 for studios anbd one- and two-bedrooms. Penthouse units are expected togo for up to $10,810 per month.
Located on the west side of Canal Street between Kinzie and Fulton streets, the 350 N. Canal site was formerly home to the Cassidy Tire building. Designed by nationally recognized architecture firm Solomon Cordwell Buenz, the new 375-foot glass tower marks the latest luxury residential project for Habitat in the neighborhood.
Habitat delivered nearby developments like Kinzie Park with condominiums and townhomes in 2001, followed by the 43-story Kingsbury Plaza apartment tower in 2007 and the 43-story Class A rental Hubbard Place in 2013.
In 1980, Habitat completed East Bank Club, the city’s premier health club, which occupies more than two full city blocks at 500 N. Kingsbury St.
JOINT VENTURE WITH DIVERSIFIED REAL ESTATE CAPITAL
The joint venture partner on Cassidy on Canal is Diversified Real Estate Capital, LLC. James McHugh Construction Co. is the general contractor.
Cassidy on Canal is one of several major multifamily developments Habitat is currently leading across Chicago, including the equitable transit-oriented development 43 Green in Bronzeville; Ogden Commons in North Lawndale where Sinai Chicago has opened a One Lawndale Community Care & Surgery Center; and LeClaire Courts on the city’s South Side near Midway International Airport.
ABOUT HABITAT
Founded in 1971, Habitat is a full-service residential real estate company specializing in property management, acquisitions and development. One of the largest residential property developers and managers in the United States, with over $3 billion in assets and more than 16,000 units under management across six states, the company’s portfolio spans a range of property types, from mid- and high-rise condominium, apartment and adaptive reuse developments to senior and affordable housing communities. Headquartered in Chicago, the firm has more than 800 employees throughout the United States.
Related Stories
Student Housing | Mar 13, 2023
University of Oklahoma, Missouri S&T add storm-safe spaces in student housing buildings for tornado protection
More universities are incorporating reinforced rooms in student housing designs to provide an extra layer of protection for students. Storm shelters have been included in recent KWK Architects-designed university projects in the Great Plains where there is a high incidence of tornadoes. Projects include Headington and Dunham Residential Colleges at the University of Oklahoma and the University Commons residential complex at Missouri S&T.
Mixed-Use | Mar 11, 2023
Austin mixed-use development will provide two million sf of office, retail, and residential space
In Austin, Texas, the seven-building East Riverside Gateway complex will provide a mixed-use community next to the city’s planned Blue Line light rail, which will connect the Austin Bergstrom International Airport with downtown Austin. Planned and designed by Steinberg Hart, the development will include over 2 million sf of office, retail, and residential space, as well as amenities, such as a large park, that are intended to draw tech workers and young families.
Multifamily Housing | Mar 7, 2023
Multifamily housing development in Chicago takes design inspiration from patchwork and quilting
HUB 32, a 65-unit multifamily housing development, will provide affordable housing and community amenities in Chicago’s Garfield Park neighborhood. Brooks + Scarpa’s recently unveiled design takes inspiration from the American tradition of patchwork and quilting.
Adaptive Reuse | Mar 5, 2023
Pittsburgh offers funds for office-to-residential conversions
The City of Pittsburgh’s redevelopment agency is accepting applications for funding from developers on projects to convert office buildings into affordable housing. The city’s goals are to improve downtown vitality, make better use of underutilized and vacant commercial office space, and alleviate a housing shortage.
Student Housing | Mar 5, 2023
Calif. governor Gavin Newsom seeks to reform environmental law used to block student housing
California Gov. Gavin Newsom wants to reform a landmark state environmental law that he says was weaponized by wealthy homeowners to block badly needed housing for students at the University of California, Berkeley.
Green Renovation | Mar 5, 2023
Dept. of Energy offers $22 million for energy efficiency and building electrification upgrades
The Buildings Upgrade Prize (Buildings UP) sponsored by the U.S. Department of Energy is offering more than $22 million in cash prizes and technical assistance to teams across America. Prize recipients will be selected based on their ideas to accelerate widespread, equitable energy efficiency and building electrification upgrades.
AEC Innovators | Mar 3, 2023
Meet BD+C's 2023 AEC Innovators
More than ever, AEC firms and their suppliers are wedding innovation with corporate responsibility. How they are addressing climate change usually gets the headlines. But as the following articles in our AEC Innovators package chronicle, companies are attempting to make an impact as well on the integrity of their supply chains, the reduction of construction waste, and answering calls for more affordable housing and homeless shelters. As often as not, these companies are partnering with municipalities and nonprofit interest groups to help guide their production.
Modular Building | Mar 3, 2023
Pallet Shelter is fighting homelessness, one person and modular pod at a time
Everett, Wash.-based Pallet Inc. helped the City of Burlington, Vt., turn a municipal parking lot into an emergency shelter community, complete with 30 modular “sleeping cabins” for the homeless.
Multifamily Housing | Mar 1, 2023
Multifamily construction startup Cassette takes a different approach to modular building
Prefabricated modular design and construction have made notable inroads into such sectors as industrial, residential, hospitality and, more recently, office and healthcare. But Dafna Kaplan thinks that what’s held back the modular building industry from even greater market penetration has been suppliers’ insistence that they do everything: design, manufacture, logistics, land prep, assembly, even onsite construction. Kaplan is CEO and Founder of Cassette, a Los Angeles-based modular building startup.
Seismic Design | Feb 27, 2023
Turkey earthquakes provide lessons for California
Two recent deadly earthquakes in Turkey and Syria offer lessons regarding construction practices and codes for California. Lax building standards were blamed for much of the devastation, including well over 35,000 dead and countless building collapses.
