Halsted Point Property Development Chicago

Last Updated on: 1st March 2025, 04:01 am

Discover the epitome of luxury living at the Halsted Pointe project, a transformative mixed-use tower on Goose Island. This 46-story marvel, designed by HPA, combines sleek architecture with modern amenities, offering a unique urban lifestyle. The tower features a mix of residential units and commercial space, catering to both residents and businesses¹.

Backed by strong financing, including a $50 million loan and $170 million refinancing, this development is set to redefine the neighborhood. The square building footprint with angled offset balconies adds a touch of innovation, setting a new standard for luxury living¹. Located in the heart of the city, it provides easy access to dining, shopping, and entertainment options.

This project is not just a building; it’s a community. With its prime location and thoughtful design, it’s poised to become a landmark in the area. Explore how this development is shaping the future of urban living in Chicago.

Key Takeaways

The Halsted Pointe tower is a 46-story mixed-use development on Goose Island.
It features a mix of residential units and commercial space.
Financing includes a $50 million loan and $170 million refinancing.
Innovative design includes a square footprint with angled balconies.
Located in a prime area with access to dining, shopping, and entertainment.

Halsted Point Property Development Chicago: Overview

The Halsted Pointe project marks a significant transformation on Goose Island, turning an industrial site into a vibrant urban community. Located at the southern tip of the island, this development replaces the long-standing Greyhound Bus facility, bringing a fresh vision to the area².

halsted pointe project

Project Background and Location

This ambitious plan is set on a prime corner of the city, offering stunning views and easy access to nearby amenities. The site’s strategic location ensures residents are just steps away from dining, shopping, and entertainment options. The project’s innovative design includes a mix of residential and commercial spaces, creating a dynamic urban environment².

Developer Insights and Key Investment Figures

Leading the charge is the Onni Group, a renowned developer with a strong portfolio of successful projects. Known for their expertise in mixed-use developments, Onni Group is bringing their vision to life with significant financial backing. The project has secured $50 million in loans and $170 million in refinancing, showcasing its scale and ambition².

With plans for over 2,450 residential units and extensive retail space, this development is set to redefine urban living. The first phase includes a 600-foot tower with 540 units, while the second phase adds another 382 units in a 500-foot tower². For more details on Onni Group’s Halsted Pointe development, visit the link.

Innovative Design, Features, and Modern Amenities

Redefining urban spaces with a blend of style and functionality, this project stands out with its innovative approach. Updated architectural renderings showcase a modern aesthetic, emphasizing both form and function. The design shifts from rounded corners to a square footprint, complemented by angled balcony offsets that add a unique touch.

modern tower design

Architectural Renderings and Tower Redesign

The tower’s redesign focuses on creating a visually striking yet practical structure. The square footprint maximizes space efficiency, while the angled balconies provide residents with stunning views. A 58-foot-tall podium offers multi-level access and houses various amenities, enhancing the overall living experience.

Mixed-Use Elements and Residential Layouts

This mixed-use development seamlessly integrates residential and commercial spaces. The residential units are thoughtfully designed, offering a range of layouts to suit diverse needs. Dedicated retail and commercial areas ensure convenience for residents and visitors alike.

On-site amenities include a state-of-the-art fitness center, a multi-tiered outdoor deck with a pool, and landscaped areas for relaxation. The project also features a 200-vehicle parking garage, ensuring practicality alongside luxury.

Feature	Details
Square Footprint	Maximizes space efficiency
Angled Balconies	Provides unique views
Podium Height	58 feet, multi-level access
Parking Garage	200-vehicle capacity

Financing, Construction Timeline, and Urban Impact

The financial foundation of this ambitious project is as impressive as its design. With a $50 million loan and $170 million in refinancing, the development is well-positioned to meet its goals³. This funding ensures a smooth construction process and supports the project’s long-term vision.

construction timeline

Secured Loans and Phase Funding Details

The first phase of construction is set to begin in 2029 and will span 24 months, delivering a 600-foot tower with 540 residential units³. Subsequent phases will follow, adding more units and retail space. The total investment for the project is projected at $1.1 billion, showcasing its scale and ambition⁴.

Affordable housing is a key focus, with 490 units planned across all phases. Phase one alone will contribute 138 affordable units, ensuring inclusivity⁴. The project also includes significant contributions to local funds, such as $17.8 million to the Neighborhood Opportunity Fund⁴.

Site Challenges and Community Connectivity

One of the main challenges is the site’s 30-foot grade change from street to waterfront, which impacts access and design³. Innovative planning addresses this issue, ensuring seamless connectivity for residents and visitors.

The integration of a dynamic riverwalk will reconnect the community with the Chicago River, enhancing the area’s appeal³. This feature, along with extensive retail and amenity spaces, will create a vibrant urban hub.

With its thoughtful design and strategic location, this project is set to redefine urban living. It’s not just a development; it’s a community-focused transformation that benefits everyone.

Conclusion

This transformative project is reshaping urban living with its blend of luxury and innovation. With a $50 million loan and $170 million refinancing, the development is set to redefine the neighborhood⁵. The design features a square footprint with angled balconies, offering residents stunning views and maximizing space efficiency⁵.

The project’s multi-phase approach ensures comprehensive planning, with the first phase delivering a 600-foot tower and 540 units⁵. Modern amenities, including a fitness center and outdoor deck, enhance the living experience. The reestablished riverwalk and improved transit options further connect the community⁵.

This development is more than just a building; it’s a vibrant urban hub. Follow its progress on Facebook and Twitter for real-time updates. It’s a beacon of smart urban growth and luxury living.

FAQ

What is the Halsted Point project about?

The Halsted Point project is a luxury mixed-use development located near Goose Island. It features residential units, retail space, and modern amenities designed for upscale living.

Who is the developer behind this project?

The Onni Group, a well-known developer, is leading this project. They specialize in creating high-quality residential and commercial spaces in urban areas.

What makes the design of this development unique?

The design includes a 46-story tower with innovative architectural renderings. It offers a mix of residential layouts, retail areas, and outdoor spaces for a balanced urban lifestyle.

Are there any amenities included for residents?

Yes, residents will enjoy access to a fitness center, outdoor areas, and other modern amenities. The development also features convenient access to public transportation and nearby attractions.

What is the timeline for construction?

The project is being developed in phases. The first phase includes the construction of the residential tower, with future phases planned for additional mixed-use elements.

How is the project funded?

Financing includes secured loans and phase funding to ensure smooth progress. The Onni Group has a strong track record of managing large-scale developments effectively.

How does this project benefit the community?

The development enhances connectivity in the neighborhood by providing retail space, improving access to public transit, and creating a vibrant mixed-use environment.

What challenges were faced during the planning process?

The site presented challenges like limited space and urban density. However, the design team worked to maximize functionality while maintaining a focus on community impact.