Wednesday, November 14, 2012

Developers Plan 770 Apartments In Uptown

Chicago Real Estate Daily
by Micah Maidenberg

Two developers are teeing up a $220 million apartment-and-retail project in Uptown, hoping to win over neighbors — and their alderman — who opposed an earlier plan for the property just west of Lake Shore Drive.

A venture between Chicago-based JDL Development Corp. and Norridge-based Harlem Irving Cos. wants to build a 30-story tower with about 620 apartments at the northwest corner of Montrose and Clarendon avenues, said JDL President James Letchinger. The developers have also proposed a nine-story building with about 150 rentals immediately to the north.

The project will face its first test Wednesday night, when the developers unveil their plans for the Maryville property, as the site is called, at a meeting hosted by Ald. James Cappleman (46th). The meeting, scheduled to begin at 7 p.m. at the Clarendon Park Fieldhouse, 4501 N. Clarendon Ave., is the first step in a potentially contentious community process that could take several months to complete.

JDL and Harlem-Irving hope to avoid the fate of Sedgwick Properties Inc., a Chicago-based developer that encountered heavy neighborhood opposition after rolling out a plan for a $350 million project on the site that included 850 residences and three towers rising 20 to 45 stories.
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  1. I want to see some renderings, but at first read this sounds like appropriate density to me.

    Actually I'd prefer higher density, but I'm like a prophet lost in the wilderness on that one.

    As always the devil is in the details. Or possibly the entrails.

    Questions regarding TIF money etc need to be answered.

    At least JDL has a better track record than the last developer who wanted to build on this site.

  2. I'm okay with it. They need some more new-construction rentals if they ever want to attract an influx. Sounds like a solid developer. This plus the new management of the Lawrence House is a start. What are people saying about the new residences behind the Target? Any "Uptown problems" over there?

  3. Anything that could raise property value will always get my vote.

    Let's be nice to the developer this time, okay?

  4. If the developer is nice to us, dude. Sedgwick treated us like silly naive children rather than community stakeholders. Let's see if JDL can do better, with a better plan and with a transparent approach. So far I'm impressed. Let's see what happens next.

  5. For those of you who are interested here is a search link for the earlier proposals for this property and the commentary.

    I suggest checking out the comments and specifically searching for my comments. Like General Petraeus I'm a legend in my own mind.

    Unlike him my scandals never made the newspapers. I'm young yet, there's still time.

  6. I was at the meeting and the developer is head and shoulders over those Sedgewick screwbawls.

  7. If the developer is hoping to attract a specialty grocer like a Trader J's or Mariano's, then I'd say forgetaboutit. Every neighborhood wants a Trader J's but I'm really hoping it goes in the old Borders bldg.

    Perhaps using the 60K SF for a globo gym of sorts would better serve the area and location, if the developer is insistent upon that large retail space.. I think a gym would cater to the slowly changing demographic in Uptown of young, working professionals. Also, Uptown isn't a food desert by any stretch.

    I'm also hoping these are all market rate units.. Praise to Jebuz!

  8. Trader Joe's in going in across Sheridan from Buttercup Park. j/k (wishful thinking!)

  9. It's funny how often people wish for a Trader Joe's, and the wish isn't unique to Uptown residents. I tend to agree with those that say this area just doesn't need another grocery store...we're pretty flush with all types outside the high end and this still isn't a high end area. Although if one did go in, I'd love to see it cannibalize the suburban style Jewel a few blocks west....that place is a dump and the massive surface lot is a crime to modern urban development.

    Can't wait to see the renders. Hopefully we get something cool like the new blue water renders released for Edgewater.

  10. Here's why I want a Trader Joe's or a Mariano's or any other high-falutin' big name store in Uptown:

    It brings in shoppers from outside the area.

    True, we have enough grocery stores for Uptowners. But there are a lot of people living here who don't have a lot of money for discretionary spending. If we look at Uptown alone, we really can't support a huge number of unique or pricey stores, like some other neighborhoods can, because the base income just isn't here.

    How to get cool stores then? Give people from outside of Uptown a reason to come here to shop.

    No one is going to travel outside their community to go to a Jewel, Walgreens or Dominicks. But put in a Mariano's or a Trader Joe's and watch the customers stream in from surrounding areas.

    We've seen it happen with Target. Uptown's Target is one of its highest-grossing stores. Uptowners alone aren't making that happen.

    I would be very disappointed to see an "ordinary" store going into the Maryville property. But put in a Whole Foods, or a TJ, and sit back for the show.

  11. the jewel on montrose is a nightmare...not just because the store sucks but because it's a sprawling mess on a lot that should be upzoned.

  12. I still think it's too dense. Are these rentals or condos? What would happen if the project can't sellout/lease-up? My experience with developers in general (don't know about JDI) is that they don't usually consider the long-term viability of a project. As long as the y get paid for building it, they don't care if the area can sustain it. Just something to keep in mind.

    Also, I am all for a specialty grocer and a gym as I am not impressed with the Jewel and World Gym. I just worry that if the area gets another grocery store and another gym, one of them isn't going to make it and then we just have another empty storefront, in this case a huge one.

    And please don't accuse me of being negative. I would love for something nice to go in at Maryville, I just want to make sure we consider whether the area can support over 700 new apartments, another grocer, and another gym.

  13. A mariano's in this area would be great. I know a lot of people go over to the store on western. I was against going over to mariano's, but after comparing Jewel bill to them. I save weekly and get better food all around.

    I strongly suggest giving them a shot

  14. Partner and I attended for the first hour. If one accepts the premise that this must be TIFd, they made a good first impression. If this is TIFd I will need to be assured it addresses the Master Plan efficiently. Since, as claimed, this project will be generating so much property tax revenue, what will that money be spent on? We know that for 20 some years it will NOT go to schools, police, fire, and parks. Can it be used to fix the trailer park up the street?

  15. Mariano's ROCKS, i'll take one! Furthermore, the density is appropriate for the lake front. Target, Mariano's and some more restaurant/nightlife is the hat-trick we need. Now use this project as a reason to save the 145 bus and add some neighborhood parking.

  16. For those interested in Mariano's and a fitness center, there's a great opportunity tonight to find out more about how the 47th Ward & the Ravenswood Station development secured both those things along with 150 units of market-rate housing alongside the new Metra Station on Lawrence & Ravenswood. This location is 1.6 miles from Uptown's Maryville site.

    Info on tonight's meeting:

  17. TrumanSquareNabr said...
    "No one is going to travel outside their community to go to a Jewel, Walgreens or Dominicks. But put in a Mariano's or a Trader Joe's and watch the customers stream in from surrounding areas."

    North Edgewater here. I would absolutely come to a Trader Joe's or a Mariano's at the Maryville site, as would several of my neighbors. We drive to Evanston or Lakeview now for TJ's and to Western/Addison for Mariano's, so having at least a TJ's this close would be wonderful. Not so sure about Mariano's, as the eventual one at Ravenswood Station would be closer to us.

  18. The project appears to be a high-quality project based on lessons-learned from Sedgwick. In regards to TIF, I just read on Curbed that 20% will be affordable housing.. Personally, I wish my set-aside tax dollars went to improving nearby public parks and beautifying the neighborhood streetscape instead of performing the status quo on an already overly-saturated affordable housing market in Uptown.. FML :-/