DOWNTOWN — The John Buck Company broke ground Friday on Michigan Avenue's first new skyscraper in five years: a 41-story residential apartment development with 22,000 square feet of retail space at 200 N. Michigan Ave.
The tower will include 402 apartments and total about 514,000 square feet. It is expected to open in May 2016.
"I think everyone can admit, this is a corridor of Michigan Avenue that could certainly use some work," 42nd Ward Ald. Brendan Reilly said, adding that "any new development on this site is going to bring a lot more light, activity and security" to the area.
The project includes widening Lake Street by 2 feet to add a westbound "drop-off" lane, and concealing more than 100 parking spaces on the building's lower level and third, fourth and fifth floors.
Early on in the project there was some pushback urging developers and bKL Architecture to consider preserving the old building on the site. But Rafael Carreira, principal on the project for John Buck, said poor maintenance, asbestos and other issues would make it difficult to update the previous structure.
The previous building, which housed businesses including the Fred Astaire Dance Studio and That's Our Bag, was demolished over a three-month period this summer.
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