533 N. St. Clair St.
- 43 stories
- 483' high
- 126 condominiums
- Project is currently on hold
SOAR Testimony on Project
The plans described here were previously approved. However, on September 9, 2011, Alderman Reilly made the following announcement:
"Yesterday at City Council, Alderman Reilly introduced an ordinance to sunset Residential-Business Planned Development No. 998 back to its previous zoning of DX-12 (Downtown Mixed-Use District).
The site located at 533 N. St. Clair was originally up-zoned in late 2005 from a DX-12 classification to Residential-Business Planned Development No. 998. A subsequent amendment to the Planned Development was approved in late 2008.
The most recent, amended plan permitted a 525' mixed-use tower to include a maximum of 499 hotel keys and residential use above a ten-story podium base to contain 310 parking spaces. The maximum allowed FAR in this amendment was 18.87. Approximately 6.87 points of that floor area was achieved through the Affordable Housing Bonus, the Chicago Public Schools Bonus and the Green Roof Bonus. To view a copy of the existing planned development ordinance, please click HERE.
Those residents within the noticing radius (250' from the subject site) will receive notification from the City Council Committee on Zoning regarding a zoning change for this property. Alderman Reilly is initiating this change because the proposal anticipated in the Planned Development is no longer being pursued and a change of ownership is anticipated soon.
For the reasons listed above, Alderman Reilly feels compelled to protect Streeterville from the potential irresponsible use of these development rights for a new development project - despite the fact these rights were approved to support a specific project that has since been abandoned. Density bonuses must be considered in the context of a specific development proposal and then be properly vetted through an open and transparent community review process.
The zoning change Alderman Reilly is sponsoring ("Residential-Business Planned Development No. 998") removes the PD as the zoning classification and restores the zoning of the site back to its original designation: DX-12 (Downtown Mixed Use District). The DX-12 designation has a maximum floor area ratio (FAR) of 12.0 - not the 18.87 FAR permitted in the Planned Development through the use of zoning bonuses. Once this downzone is finalized, the previously approved plan for the site cannot be built. Any new proposal for this site will be required to start over - with an application filing submitted to the Alderman for consideration and community input.
Alderman Reilly looks forward to partnering with Streeterville residents and community group leaders to discuss appropriate development proposals that are contextual and serve to enhance this world-class neighborhood."