LAKEVIEW — The corner of Broadway and Sheridan could see double the action with a second mixed-use development proposal on the table.
An eight-story building could replace the vacant Mobil gas station at 3901 N. Broadway, and Vermilion Development will present its plans March 7 to the 46th Ward Zoning and Development Committee.
First, though, neighbors can get questions answered during a special meeting at 7 p.m. Thursday. Developers will meet with East Lake View Neighbors at Gill Park, 825 W. Sheridan Road, across from the development site.
Vermilion wants to build a 105-foot-tall building with 100 apartments, 2,200 square feet of retail space and 65 interior parking spaces, according to Ald. James Cappleman (46th). The project would take 14 months to complete, creating at least 95 construction jobs and seven permanent jobs in the finished building.
Vermilion Development wants to build an eight-story building that will house 100 apartments, 2,200 square feet of retail and 65 parking spaces. [Provided/46th Ward]
Vermilion is requesting a zoning change, as the current zoning only allows for 21 residential units and a maximum area of 44,699 square feet — far smaller than the proposed 101,590 square feet. Current zoning also requires a 45-foot maximum building height and one parking space for each unit.
Initially, neighbors wanted to restrict builders a total height of 95 feet, which would reduce the number of floors, they said in a letter to Cappleman. While the building itself is 94 feet under the current proposal, the elevator shaft and stairwells would add 11 feet.
But with the Broadway Sheridan development directly across the street reaching a total height of 102 feet, the directors of East Lake View Neighbors amended their recommendation to allow Vermilion to build up to 105 feet.
The $20 million project would include three affordable units. In lieu of additional affordable units, Vermilion has pledged a $875,000 contribution to the Affordable Housing Opportunity Fund, which is used for building new affordable housing and rent subsidies.
The proposed eight-story building at 3901 N. Broadway would include more parking spaces on its mezzanine floor for a total 65 parking spaces. [Provided/46th Ward]
The first floor of the proposed structure would include parking spaces, tenant storage and some retail space. [Provided/46th Ward]
As of Feb. 2, the River North-based Vermilion had yet to secure financing for the project and had not named a contractor. Past Vermilion projects include Harper Court in Hyde Park and University Hall in Indianapolis.
Neighbors of the proposed Lakeview development have responded more positively than to a 2014 proposal to build an 18-story building twice the height of the Vermilion plans. Sedgwick Properties wanted to build a 196-foot structure with two floors of retail, 120 apartments and residential parking.
Renderings from Hirsch Associates show a rectangular building mostly made of glass, with red-brown brick on the first floor and on each end of the structure.
The second floor of a proposed mixed-use building at 3901 N. Broadway would have 15 apartment. [Provided/46th Ward]
Most floors of the eight-story building will have identical floor plans with 15 apartments. [Provided/46th Ward]
Tenant storage and parking for vehicles and bicycles will take up the basement, mezzanine and first floor, with seven floors of apartments above. The 2,200 square feet of retail space will anchor the first floor at the northeast corner of Broadway and Sheridan.
A green roof would top half the structure, which would also have an indoor trash room, a fitness center and shared common space on the eighth floor. About 40 apartments would be one-bedroom, with 35 studios and 25 two-bedrooms. Apartments would average 800 square feet.
The seventh floor of the proposed development at 3901 N. Broadway will have one fewer apartment, but will have green roof space. [Provided/46th Ward]
The eighth floor of the proposed mixed-use development at 3901 N. Broadway includes 11 apartments and space for a fitness center and shared entertainment space. [Provided/46th Ward]
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