ROGERS PARK — A new Target department store could be the next big development on Sheridan Road, after getting approval from the Chicago Housing Authority to enter into negotiations with developer Robert Ferrino on Tuesday.
Tuesday morning, Ald. Joe Moore (49th) sent an email to residents that said he anticipated CHA's board of directors would approve the first steps of a proposal that would include "mixed-income, mixed-use development," which also includes the Target store.
"The CHA Board’s action today is just the very beginning, not the end of the process for developing the site," Moore wrote. "The developer and Target are still negotiating over the final terms of the lease, and though it looks promising, the deal has not yet been inked."
The project would take place at about 6418 N. Sheridan Road, just north of the Sheridan/Devon intersection that divides Rogers Park from Edgewater.
The location is a parking lot and community room used by seniors at the neighboring Caroline Hedger Apartments, also owned by CHA. Those apartments have been undergoing renovations from Madison Construction, also owned by Ferrino.
Ferrino is also the owner of Three Corners Development, which oversaw the development of the Heartland Health Center and an apartment complex both along Devon Avenue.
Going forward, Moore said additional details will also need to be negotiated between Target and Ferrino, such as the size and appearance of the building, if it will have parking, who tenants will be and whether Ferrino's company will buy the property, or sign a long-term lease, with the CHA.
"The CHA expects to now enter into discussions with the development team to determine the future of this site and how it fits into the overall goals CHA has to provide residents with access to community amenities and an improved quality of life," said Molly Sullivan, a CHA spokeswoman.
Sandi Price, executive director of the Rogers Park Business Alliance, said while "we understand that the addition of a major retailer like Target on Sheridan Road will come with some challenges," the store would ultimately "enhance the accessibility, attractiveness and overall appeal of the North Edgewater and South Rogers Park commercial areas."
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