Edgewater condo tower deal close to falling through again
For the second time in less than a year, the proposed construction of a high-rise condominium tower next to a Greek Orthodox church in Edgewater is again facing cancellation.
The deal between developer J. Paul Beitler and St. Andrew’s Greek Orthodox church is facing pressure from the city zoning commission and neighborhood groups.
Plans called for a 45-story tower to be built at 5648 North Sheridan Road. A total of 288 condominiums would be built at the site, as well as 613 new parking spaces. However, the developer wants to make changes to the letter of intent to reflect changes requested by the alderman, including extra parking for the project.
The congregation president, Evan J. Mammas, sent a letter to parishioners stating that
“At this time, the Parish Council believes that any restructured proposal would be unacceptable and have so advised the developer.” Source: chicagorealestatedaily.com
The Edgewater development is one of many proposed Chicago Condos facing rising pressure from neighborhood groups and city alderman around the city. Heavy development in recent years has led to a shortage in parking and increasing congestion in many Chicago neighborhoods.
Technorati Tags: Chicago Condos, Edgewater Condo Development, Chicago Real Estate, St. Andrews Greek Orthodox