8 acres of land in Japantown at 357 E. Taylor St. is expected to go into contract with a major apartment builder soon. There were big plans for this site five years ago, but the economy killed any potential for development back then. Now, it looks like things are moving forward and the land is already entitled for around 400 residential units.
The project should include three new five-story buildings with a chance for even greater density. The old Continental Can Co. brick warehouse at the site will be preserved and even perhaps integrated into the project. A 1-acre park would be in the mix here as well.