Multifamily N Illinois

Construction begins on Wolf Point East in Chicago

  
Construction begins on Wolf Point East in Chicago,ph01

Construction is underway on the 60-story, 698-unit Wolf Point East luxury apartment tower, according to a statement from Hines, the firm developing the project in partnership with the Joseph P. Kennedy Family.

Wolf Point East represents the second phase of the overall Wolf Point development project designed by Pelli Clarke Pelli. The second tower will fill one of the last remaining riverfront sites in downtown Chicago.

AFL-CIO Building Investment Trust and PNC Realty Investors are also involved in the project.

“We continue to see intense demand for high-quality spaces in which to live, work and play along the Chicago River and we believe Wolf Point East is well positioned to satisfy the demands,” Jim Walsh, Hines’ Senior Managing Director, said in a statement.

Bank of America Merrill Lynch led the construction loan financing for the project in conjunction with ULLICO, Citizens Bank and ING Real Estate Finance. Walsh Construction serves as the general contractor and Pappageorge Haymes Partners is the architect of record.

The initial turnover of units was projected for late 2019.