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terling Bay, a Chicago-based development firm, is shifting its focus from offices to multifamily housing in the city's hottest commercial district, Fulton Market. The company plans to build a 39-story, 570-unit apartment tower at 350 North Morgan Street, replacing an earlier proposal for an 18-story office building. This move reflects a broader trend in Fulton Market, where over 2,000 apartments are currently under construction or recently completed.

    The site was initially intended for a Google office building before the pandemic disrupted those plans. Sterling Bay has applied for city approval to construct the apartment tower, which will feature a five-story base and include 115 affordable units. The developer's earlier efforts in Fulton Market have laid the groundwork for this proposal, including the recent completion of a 30-story residential tower at 160 North Morgan Street.

    Fulton Market's transformation from an industrial hub to a thriving mixed-use district has fueled interest in residential development. Sterling Bay is not alone in adapting its plans; other developers, such as Fulton Street Companies and Onni Group, have also shifted their proposals for the area. The city's housing ordinance requires that 20% of units in new developments be affordable, aligning with Sterling Bay's proposal.