Tuesday, November 3, 2020

Rendering Reveal: FINALIZED Plans For 4601 N Broadway

Looking NE at Broadway & Wilson (Pappageorge Haymes)

After revisions with the city's Department of Planning, the development that most of Uptown has been patiently waiting for is finally moving forward.

You might recall that The John Buck Company along with Free Market Ventures are now partnering to develop the 9 story project at 4601 N. Broadway. Final details of the project have been worked out and demolition approval has been granted by the Landmarks Commission for the property stretching from 4601 N. Broadway through 4617 N. Broadway. 

The John Buck Company shared the following details of the project with Uptown Update:
"The general contractor will be McHugh Construction and the architect is Pappageorge Haymes. There will be a total of 200 units with a mix of studios, one, two and three bedroom units. The ground level will feature 9,000 square feet of retail with the hopes of attracting a retailer such as a restaurant or a coffeeshop. 

Residents of the building will enjoy mobile-device controlled entry points and touchless elevator system, as well as individual reservable office spaces on each residential floor. The building will also feature a dog wash center. The top floor amenity space will include a robust co-working center, fitness center, game room and resident lounge adjacent to expansive outdoor lounge with grills and fireplaces."
It's been a long time coming, and we look forward to seeing demolition crews on site soon! 

9 comments:

  1. It's time to see something at this key point. But I wish it had been held to 6 stories, more or less. It's supposed to be a landmark district, and this is out of scale. IMHO.

    I'm also glad to see a mix of apartment sizes. I had had the impression that it was going to be all small units. That's how Uptown became a slum, back in the 20s and 30s. No need to repeat that part of our history!

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  2. Marty, the developer did their pro forma analysis and no lender would have given them financing had they kept it at 6 stories. Banks fear a default on their loan if the numbers don't work. Many people have a belief the developer drives the process... it's not. It's the lender.

    When developers make a decision on the size of their units, they have to prove to their lender that there's a fairly good prediction the rental units would get filled. Because smaller units rent out more easily and have a greater return on a bank's investment, many developers will gravitate to smaller units.

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    1. why no affordable units?

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    2. The ARO requires 10% of the units to be affordable; either onsite or offsite.

      Onsite: Minimum required income to qualify for this type of housing is $43,682 for a couple; $38,220 for an individual.

      Offsite: Maximum required to qualify for this type of housing is $21,850 for a couple; $19,150 for an individual. Minimum income is 0. Approximately 1/3 of people who live in these offsite units have 0 income. This is the fund often used to house people who have been living on the streets.

      For this development, the housing is offsite and that decision was made to address the critical needs of people living on the streets who would never qualify for onsite housing. The 46th Ward has more offsite units from this fund than the combined total of 28 other wards, with no other ward coming close to what the 46th Ward provides.

      There is a shortage of all types of affordable housing across the City (and across our country) so there's no easy answer to select who gets more assistance. Because many people have voiced a strong preference for onsite housing to help those earning 60% of the AMI, I now require all the housing to be onsite. That means there will be less funds to house people experiencing homelessness, including those who are living under our viaducts. Each choice has valid points, but there are negative repercussions that also occur.

      I am in ongoing conversations with the Mayor and the Dept. of Housing to make it clear that Chicago must do better to assist those living on the streets. We actually save money when we house this group for free because it drastically reduces health care costs which go up exponentially when someone stays outside in the elements. As it stands now, the ones getting shortchanged the most are the ones with the fewest options. The 46th Ward ranks #1 with the most government affordable housing in the City, and we're getting more. However, other wards need to step up but it goes without saying that it's extraordinarily difficult to get financing together to build it.

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    3. thank you for replying, but you do not say where the offsite apartments are going to be. can you clarify?

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    4. I don't know where they will be going, but the 46th Ward has more of these Low Income Housing Trust Fund units than the combined total of 28 other wards. No other ward in the entire City comes remotely close to what the 46th Ward currently has, and I'm doing everything I can to get more.

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  3. Great to see things moving forward at this site. I think the density and the height is great. But as an architect that lives a few blocks away, I think the design for the exterior could be so much better that this corner. This looks very bland in my opinion. No more bland beige. This is in a landmark district, the new design should add to the energy of the district, and not be a boring block. Let's make new landmarks!

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    1. I actually like the look and color. It brightens and spruces that corner up, in my opinion. It's been a long time coming.

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