CHINATOWN — A Chinese investment group is looking to build a five-story hotel adjacent to the neighborhood's CTA Red Line stop.
Records show a company called Sheng Man De LLC last month applied for a zoning change with the city that would pave the way for a 60-room hotel. The building would be built upon a smaller parcel at the northwest corner of Clark Street and Archer Avenue.
"Small parcel, small project," said Mark Kupiec, an attorney representing the investment group.
Led by Kin Kuong Chon, the investment group has owned the property since July 2013.
"It's investor money from China,” Ald. Danny Solis (25th) told Crain's. “Right now, the money's flowing from China.”
Solis said he backs the hotel project, which would also include commercial and retail space within the 5,500 square-foot lot.
The support of the alderman is likely a good sign the city's zoning committee — chaired by Solis — will approve the proposal at an upcoming meeting.
If approved, the project would be starting around the same time construction on another nearby hotel development could be wrapping up.
That hotel, located about a half-mile away at Cermak Road and Princeton Avenue, will have 108 rooms. Work there is expected to wrap up in early 2015, with plans to debut the hotel development in May.
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