London-based coliving operator The Collective is attempting to make its Chicago debut at 633 South LaSalle Street.
The company hopes to transform the parking lot into a 17-story coliving complex that will include numerous amenities including coworking. This location will be The Collective’s first U.S. project outside of New York City.
The company will also partner with South Loop institutions to create a neighborhood feel.
“We’ll set out to partner with different South Loop-based groups to activate our block and invite our surrounding neighborhood into our space as much as possible,” said Reza Merchant, CEO of The Collective. “In Chicago we see an opportunity to service a demand for more economical housing with community at its core.”