On Monday, Curbed’s Mark Boyer shared some new renderings of Magellan Development‘s next endeavor at Lakeshore East: a Brininstool, Kerwin & Lynch-designed apartment tower planned for 345 E Wacker Dr. Today, David Roeder of the Sun-Times followed up with a short report on the building’s design and timetable for construction.
The 49-story high-rise will have 499 units, 18,000 square feet of commercial space, and 272 parking spaces. Brininstool’s design, apparently inspired by Harry Weese’s triangular design for the neighboring Swissotel, uses a mix of aluminum, stainless steel, and a variety of glass, and will feature recessed balconies, Roeder says.
Magellan is in the process of raising $150 million for the building and plans to break ground next month, says Roeder. Construction will take about 18 months, so expect completion sometime in late 2012.
This is just one of at least 14 new rental developments that have been proposed, are seeking financing, or are already under construction in the downtown area. If built, those 14 projects would introduce almost 4,700 new units to the market. You can see a list of those buildings with their latest known status at Google Docs.