Chicago-based The Habitat Company, a leading U.S. multifamily developer and property manager, along with joint venture partner Diversified Real Estate Capital, LLC, held a groundbreaking ceremony yesterday for Cassidy on Canal, a 33-story, 343-unit Class-A rental tower at 350 N. Canal St. in Chicago’s Fulton River District.
Designed by nationally recognized architecture firm Solomon Cordwell Buenz, the new 375-foot glass tower will mark the latest luxury residential project for Habitat in the neighborhood. Habitat delivered Kinzie Park with over 300 condominiums and townhomes in 2001, followed by the 43-story Kingsbury Plaza apartment tower in 2007 and the 43-story, 450-unit Hubbard Place in 2014.
Located near Canal Street, between Kinzie and Fulton streets, the 350 N. Canal site was formerly hometo the Cassidy Tire building. Habitat plans to integrate some of the property’s original bricks into the build out of the new community.
Fiascone noted the site’s location should also appeal to a wide range of renters, given its proximity to several L, bus and Metra lines, plus its high walkability to the numerous business, restaurants and entertainment options of the Loop, Fulton Market and River North.
Upon completion, Cassidy on Canal will feature a mix of studio, one- and two-bedroom units, 1,313 square feet of ground floor retail, parking for 123 vehicles, and an outdoor dog run just northwest of the building. A robust amenity package of indoor and outdoor spaces on the building’s fifth floor includes a fitness center, game room, various size club rooms, coworking center, spa with sauna, steam and whirlpool rooms, swimming pool with cabanas, a north and south sun deck, grilling areas, fire pits, cool weather heaters, and dining areas on each deck surrounded by richly landscaped grounds. First resident move-ins are anticipated for Spring 2024.
McHugh Construction is serving as general contractors for the development.
Habitat’s long-standing commitment to developments in this area extends beyond residential projects. In 1980, the firm completed East Bank Club, the city’s premier health club, which occupies more than two full city blocks at 500 N. Kingsbury St.
Cassidy on Canal is one of several major developments Habitat is currently spearheading across Chicago. The firm’s other notable projects include mixed-use projects 43 Green in Bronzeville, Ogden Commons in North Lawndale and LeClair Courts on the city’s South Side near Midway International Airport.