Construction checkup: Ritz-Carlton Residences
Posted 8/12/2008 by Mark Boyer
It doesn't look too much like the electric blue and periwinkle rendering yet, but construction is indeed underway on the Ritz-Carlton Residences at the intersection of Michigan Avenue and Erie Street in the Gold Coast.
As some Yo readers might recall, the building in the foreground that's covered in scaffolding is the Farwell Building, an 11-story building at 664 N Michigan Ave that dates back to the 1920s and that topped Preservation Chicago's most threatened historic buildings list in 2007.
Prism Development Group's plans to demolish the building were rejected by the Commission on Chicago Landmarks, and now, the building is being dismantled and restored. The Farwell Building will eventually house retail, office space and condos.
Directly to the north of the Farwell Building, two other parcels are being demolished to make way for the 40-story tower, according to Margo Dahmani of Prism Development. Dahmani says demolition will continue through the end of the year, and then work on a two-level basement will begin in January.
Dahmani doesn't expect vertical construction to begin until the spring of 2009, and she says that construction will wrap up by late 2010 or early 2011. First deliveries are slated for early 2010.
- Rate and review the Ritz-Carlton Residences at NewHomeNotebook.com.
Comments
8/12/08
Anon1 said:
First, I'd hardly say that the Farwell Building is being restored. They're going to demolish it and then "glue" back the exterior pieces.
Second, are you sure about the retail/office/condos in the 11 story Farwell? I think there's retail and office space on the bottom floors, but the rest is parking.
Mark Boyer said:
Anon1:
I had thought that the Farwell Building was going to used largely as a parking structure too, but Dahmani told me that the only parking on that site would be underground.
john said:
This building is hideous!!!!!!!!!! i cannot believe they are tearing down yet another building that shouldn't be. I guess this is the kind horrendous architecture we want cause River North is a perfect of example of what we have to be proud of!! I think in ten years at this rate we might not even recognize our own city !! infuriating!
Anon1 said:
Really?
If I correctly remember what Lagrange said more than a year ago, the reason for demolishing the Farwell was to make larger floorplates. He said without the Farwell the developer could only put a limited number of spots per floor, meaning they'd have to build more parking floors which would increase costs.
Are there roughly 170 parking spots in the whole development still?
BB said:
Gimme a P!
Gimme an A!
Gimme an S!
Gimme an S!
Gimme an E!
8/13/08
Mike said:
Kindly allow us to set the record straight - the approximate 21,000 rentable square feet of retail space will being located on the ground and second floors and extend through all three properties of the development (664, 666, and 670 N. Michigan). The office component of about 12,500 sq. ft. will be located on the third through fifth floors of the reconstructed 664 (Farwell) Building only. There will be no parking in the 664 parcel, rather the approximate 115 - 125 parking spaces will be housed on sub-basement levels and floors 3 - 9 of the 666 and 670 parcels only.
UptownR said:
This building is awful.