By David Roeder, Staff Reporter
Chicago Sun-Times
Construction on a Target store in Uptown will begin in January, the developer of the community’s Wilson Yard site said today.
Peter Holsten, president of Holsten Real Estate Development Corp., said the store should be open by October 2009. He said construction also will start in January on the site’s 178 apartments, which are scheduled to open by the end of 2009.
The work would signify further progress on a controversial development site. Despite assurances from Holsten and Uptown’s alderman, Helen Shiller (46th), many residents have voiced doubts and criticism about the project.
The Wilson Yard property, a former CTA maintenance center, covers about four acres on the west side of Broadway between Montrose and Wilson, with the Red Line L tracks the western edge. An Aldi discount food store opened on the site’s north end earlier this year.
Holsten said Target Corp. has signed a lease for the property and that he’s meeting with company officials Friday to review financial and design details.
Target has never confirmed an intent to move into Wilson Yard, which has fueled skepticism in the neighborhood. Media relations staff at the Minneapolis-based company could not immediately be reached for comment.
Holsten said the store will cover 180,000 square feet and be built over a below-grade parking level, a design the retailer has adopted for other cramped land sites in Chicago. He said the Target will be the retailer’s standard format, not the one that includes a full-line grocery.
The housing component, financed by tax credits and debt from city and state agencies, calls for 98 rental units for seniors and 80 for families.
Holsten must market the apartments to people with low to moderate incomes. He said a family of four can qualify with an income of up to $50,000 a year.