WRIGLEYVILLE — The latest iteration of a stalled development just south of Wrigley Field calls for fewer apartments, more parking, a rooftop pool and expanded sidewalks.
Developers of Addison Park on Clark — a project that previously included a hotel and later, 170 apartments — are now proposing a building with less than 150 apartments, nearly 500 parking spaces and nearly 170,000-square feet of retail space.
The development on Addison Street between Clark Street and Sheffield Avenue will also feature a rooftop pool and sun terrace area for the building's residents and a health club. M&R Development's Tony Rossi said they are negotiating with XSport Fitness.
The tallest part of the building would be 93 feet, 2 feet more than the previous iteration featuring a hotel. The retail area would be three floors and 53-feet tall, and the residential tower would be set back to reduce "the apparent mass of the building," said architect Gary Kohn with Solomon Cordwell Buenz.
Sidewalks on both Addison and Clark would be expanded, with Clark's growing from 8 feet to 12 feet and Addison's growing to 13 feet. Parking will be both underground and in the building.
The residential portion would be rental apartments and will include studios, one bedrooms and two bedrooms.
In 2010, the city approved a planned development that included a boutique hotel. It fell through due to foreclosure and failed financing, and once developers went back to the drawing board, they decided there's "no market" to add a hotel there, especially with the Ricketts family planning a boutique Sheraton Hotel on the McDonald's lot, Rossi said.
In January, they brought a plan to Ald. Tom Tunney (44th)'s Community Directed Development Council that proposed 170 apartments and 380 parking spaces instead. They then presented an updated plan to Southport Neighbors this week in a meeting at Blaine Elementary School, 1420 W. Grace St.
Neighbors asked questions about details such as timelines and parking but did not express strong opinions about supporting or opposing aspects of the updated project.
Rossi is negotiating with a number of tenants for the development but would not say who. He said the retail portion would most likely be restaurants and bars. The Starbucks at 1023 W. Addison St. would stay. The well-known iO Theater is in negotiations to move to a location in Old Town, 1501 N. Kingsbury St.
Developers hope to gain city approval and retail partners on board this fall. Rossi hopes financing will pull through in four to five months so that construction can start in the spring.
Construction would take about two years and would require coordination with the Cubs' construction, Rossi said. They hope to finish constructing the retail portion quickly and then focus on interior construction as to minimize noise and street closures.
Residents may sign up for updates on the development's website.