Lake Shore Drive welcomes new, affordable residential complex

CHICAGO - Related Midwest broke ground on a new residential complex on Lake Shore Drive on Monday.

The complex, located on 400 Lake Shore Drive, will provide over 100 units of affordable housing for Chicago's Streeterville neighborhood.

The building is projected to be 72-stories and will have over 600 rental apartments with layouts of one, two and three-bedroom layouts.

The building will fill the space where construction on the Chicago Spire was never completed. During the groundbreaking, developers signed a commemorative beam to lower into the open space where the Spire was supposed to be built.

In addition to the complex, Related Midwest committed $10 million to build the highly anticipated DuSable Park. The park will be 3.3 acres located east of Lake Shore Drive.

The complex and the park will sit on 4.5 acres of land that includes a plaza, a two-story podium and public art.

The building of the residential complex will be a two-phase project. An extension of the Chicago Riverwalk is expected to be completed in phase one.

"This dual-tower, gateway design will reshape Chicago’s lakefront. The site’s transformation will begin with the taller northern tower, whose intentional positioning will allow for sweeping views of the lake, river and skyline," Ann Thompson, Executive Vice President of Architecture and Design at Related Midwest, said in a statement.

Phase one of the project is expected to be completed by 2027.