CHINATOWN — A developer has received city approval to build a two-story retail development at Canal Street and Archer Avenue that will be known as Canal Plaza.
Skyriver Development LLC was issued a building permit Aug. 17 to replace the existing three-story building at 2300 S. Archer Ave. with a new, two-story retail and parking garage structure, according to the Near South Planning Board, a local not-for-profit that advocates for businesses and the community.
The complex will include space for 40 "commercial condo" units and about 74 parking spaces, the planning board said in a newsletter. The building could be ready for tenants by Spring 2018, the planning board said.
Adding a retail complex at the location will expand the Chinatown commercial corridor further south down Archer Avenue. The development comes as the neighborhood is adding new infrastructure, cultural attractions and a massive housing development just to the north.
A number of zoning variances have been granted for the project, including reducing two loading zones to one, reducing the front setback from Canal Street from 12 feet to zero feet and reducing the number of parking spaces from the required 88 to 74.
The Near South Planning Board said it has expressed concerns about parking, signage and "vehicular circulation" and will follow up on the those issues with the developer.
Curbed Chicago first reported on the development.