From Ald. Osterman's weekly newsletter:
"Last night we held the last of several community meetings to discuss the proposed development of the 5050 N. Broadway building (former Aon Insurance building) and adjacent structures and land.
I strongly support this project (a mixed-use retail/multifamily development with 710 rental units, including 107 units that will qualify as affordable housing, as well as a parking garage and attractively designed commercial space), which I believe will be a huge benefit to everyone who works, lives and shops in the Broadway-Argyle area.
I commend the developer, Cedar Street, for agreeing to increase the number of affordable housing units to 15 percent from the required 10 percent in order to place this housing within reach of more of our neighbors.
Although some in attendance at last night's meeting opposed the project, I believe it will help continue the considerable progress we've made in this part of the 48th Ward. I look forward to working with my colleague Alderman Ameya Pawar (47th) and Cedar Street to move the development forward."