SOUTH SHORE — A developer says he’s ready to pump $15 million into restoring the Shoreline Apartments, but neighbors will have to wait another month for details.
Ayman Assaf of Zidan Management Group of Indiana started detailing his plans for the 50-unit building at 2231 E. 67th St. at a Tuesday night meeting with Ald. Leslie Hairston (5th) when the lights went out.
The meeting ran over and the janitor at Parkside Community Academy turned the lights out on the crowd before Assaf could get into his plan for the building, which was sent into receivership in November after 10 years of building code violations.
Assaf said he paid $320,000 to move the last of the tenants of the once grand building when he bought it in February and started preparing his plans for its next life.
He said outside the school after the meeting that he planned convert the building into 100-115 apartments averaging about 850 square feet.
Hairston had called Assaf to the meeting to get the community’s input before signing off on the city approvals the project will need to go forward.
“It is a building of landmark quality and he will meticulously restore the building,” Hairston said.
She said she will wait until after her May ward meeting, where Assaf will present his plans more fully, before she signs off on it.
“We need the community to say they’re OK with the project,” Assaf said.
The 16-story building was built in 1928 as a cooperative and fell into disrepair in the early 2000s, according to city records.
The problems escalated in recent years and peaked when the boiler broke and the pipes froze, according to Hairston.
Assaf said he started trying to get the building when it was sent to receivership by the courts with plans to do a project similar to Somerset Place Apartments, 5009 N. Sheridan Road, his only other project in the city.
He will return to the 5th Ward meeting to give more details at 6 p.m. May 24 at Paul Revere Elementary School 1010 E. 72nd St.
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