MEDICAL DISTRICT — As part of a $111 million project, developers plan to build a 19-story apartment tower just south of the Medical District Apartments at Ashland and Taylor.
Guggenheim Real Estate, Atlantic Realty Partners and Focus Development plan to develop a 209-foot apartment tower that would bring 254 new apartments to the area and 28,000 square feet of retail space at the northeast corner of the Ashland and Taylor intersection, said Christine Kolb, Focus Development associate vice president.
The new tower will also include 245 parking spaces — 134 spots for residents of the old Medical District Apartments development, 88 parking spaces for residents living in the new building and 23 parking spaces for retail tenants.
An existing two-story parking garage will be demolished to make way for the new tower.
Ald. Jason Ervin (28th) wants to bring another grocery store to the area, Kolb said, and the developer is working with a commercial broker to attract a quality tenant to the ground-floor retail space.
Developers are also renovating 410 existing apartments at the Medical District Apartments, located in two existing 12-story buildings on Ashland just north of the new planned tower, now called SCIO at The Medical District. To date, one-fourth of the units have been renovated and the entire renovation project will be complete by the end of the year, Kolb said.
The Medical District Apartments, which include studios, one-bedroom and two-bedroom units, were originally built in the early 1970s and have been "haphazardly" updated through the years, Kolb said.
Under plans, a new 9,000 square foot, one-story amenity building will also be built on site which will include a fitness center, entertainment area and on-site leasing and management.
Developers haven't yet revealed their plans for a site located north of the Medical District Apartments. A vacant 30,000-square-foot parking garage is currently located at the site, Kolb said.
