Property: Cassidy on Canal
Developer: The Habitat Co.
Unit Size: 343
Chicago-based multifamily developer The Habitat Co. and its joint venture partner, Chicago-based Diversified Real Estate Capital, broke ground earlier this month on Cassidy on Canal, a 33-story, 343-unit multifamily rental tower in Chicago’s Fulton River district.
The 375-foot glass structure, designed by Chicago-based architecture firm Solomon Cordwell Buenz, is the latest in a number of luxury residential projects by Habitat in the Fulton River area, totaling over 1,000 units across four buildings. It is located close to several public transit options, and is walkable to Chicago’s Loop, Fulton Market and River North neighborhoods.
“The Fulton River District, with its vibrancy, beauty and connectivity to so many arteries of the city, remains one of the premier locations to live downtown, and we are excited to … contribute to its continued growth and prosperity,” said Daniel Levin, Habitat founder and chairman, in a press release provided to Multifamily Dive.
The unit mix will include studio, one-bedroom and two-bedroom apartments, and the building will feature 1,313 square feet of ground-floor retail, 123 parking spaces and an outdoor dog run. The amenity suite on the fifth floor includes a fitness center, game room, club rooms, a coworking center, a spa with a sauna, a swimming pool and cabanas, a north and south sun deck, grilling stations, fire pits and dining areas.
Cassidy on Canal is named for the site’s former structure, the Cassidy Tire building, a glass factory turned tire dealership built in 1902. Following The Habitat Co.’s acquisition of the site in 2019, activist group Preservation Chicago aimed to have the existing Cassidy Tire building designated as a historic landmark and preserved as part of the development plan, according to NPR. While the building was ultimately demolished, The Habitat Co. intends to incorporate the original bricks into the new structure.
“To honor the location’s rich history, it was important to us to bring this neighborhood a new development that stands out through its forward-looking design and modern conveniences, yet also pays homage to the site’s legacy by keeping the Cassidy family name,” said Matt Fiascone, president of The Habitat Co.