Tuesday, July 3, 2018

Work Underway On Cedar Street's Redevelopment Of 5000 Block Of Broadway

The facade of 5050 N. Broadway is being removed
as we speak. (MW)

Thanks to reader MW for sending us this photo of the former Combined Insurance/Aon Building at 5050 North Broadway, now in the early phases of being redeveloped as part of a massive two-block-long project. The 12-story main tower building will get new windows and a gut rehab, as will the attached 6-story building at 5060 Broadway. Eventually the two will contain 342 apartments and street-level retail space.

According to Ald. Osterman, a three-month demolition period will be required.

Phase II of the project will bring the construction of two new seven-story buildings across the street, at 5063 and 5083 North Broadway, for a total of 710 new apartments and 45,000sf of retail space. 15% of the new apartments will fall into the affordable housing category.

The existing six-story parking garage at 5051 North Broadway will remain. This project will be a gamechanger for the section of Broadway between Winona and Winnemac, just half a block north of the Argyle business district.

The 5050 & 5060 buildings are located in Ald. Pawar's 47th Ward, and the 5063 & 5083 buildings will be located in Ald. Osterman's 48th Ward.

A look at the plans and renderings is here.

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