Site Plan Approved For Southbank In South Loop as Lendlease Announces it's Exiting the Project

The Southbank development in the South Loop is progressing with a newly approved site plan for its next phase. This development, located at 680 S Wells Street, is spearheaded by developer Lendlease, who applied for foundation permits late last year.

Design and Structure

Local firm FitzGerald Associates has designed the new tower, which will stand 40 stories tall and reach a height of approximately 430 feet. This structure will be the third tower to rise on the expansive vacant site. Initial renderings reveal a modern design with a dynamic glass curtain wall and alternating color decorative panel grid.

Site Plan and Connectivity

The approved site plan includes a new private drive connecting the tower to Wells Street and internally to other buildings in the development. This drive will link the structure to Alta Grand Central to the north, and to future towers: a 30-story building to the west and a 60-story building to the north.

Ground Floor and Amenities

The ground floor of 680 S Wells will feature a spacious residential lobby, retail spaces along Wells Street, a pedestrian walkway to the south, and access to an above-ground parking garage. The parking garage will house 239 vehicle spaces and be enclosed in a dark gray concrete exterior with white vertical panels. An amenity floor with a large outdoor deck will top the podium, offering residents additional recreational space.

Residential Units

The tower will contain 531 residential units, likely comprising studios, one-, two-, and three-bedroom layouts. Approximately 107 of these units will be designated as affordable housing. Corner units will offer private balconies, enhancing the living experience with outdoor space.

Development Uncertainty

Despite the project's approval, its future remains uncertain. Lendlease has announced plans to sell all of its projects outside Australia, including Southbank. This suggests that the approval might be part of a strategy to sell the site with pre-approved plans, similar to Sterling Bay's approach in Fulton Market.

Related Developments

Meanwhile, site clearing activity has been observed on the southern half of the original Riverline megadevelopment owned by CMK Properties, though no further updates have been provided.