UPTOWN — A community meeting to discuss and vote on a proposal to develop the Aon Building will be held Thursday.
Representatives from Cedar Street will discuss its proposal to develop several buildings in the 5000 block of North Broadway with neighbors at 6:30 p.m. at Furama Restaurant at 4936 N. Broadway, according to Ald. Harry Osterman (48th) and Ald. Ameya Pawar (47th), who are sponsoring the meeting.
This will be the last of several meetings that have been held in the community about the project, which includes developing the former Aon Insurance Building at 5050 N. Broadway, the building just north of the insurance building, "the parking structure on the east side of Broadway, the vacant lot on the corner of Winona and Broadway and the vacant structure behind the corner lot," Osterman said.
A vote to determine if the proposal should be accepted will be taken at the meeting, he said.
Renderings of the project. [Courtesy of Booth Hansen]
In April, Cedar Street bought the Aon Building for $16.1 million. The building at 5050 N. Broadway has 130 residential units situated on floors 2-6 and a 97,500 total square feet, according to the Cedar Street website.
At a community meeting at the end of March, developers revealed plans to bring more than 700 apartments, a large gym, a rooftop lounge, retail and an outdoor cafe to the 5000 block of North Broadway. Of the 710 new apartments, 107 would be affordable units spread evenly across the buildings.
Ensuring that 15 percent of the units would be affordable was important, Pawar said at the meeting in March, adding, "I don't think there's been this many affordable units in a project this size in the city."
Renderings of the project. [Courtesy of Booth Hansen]
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