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Maryville Academy Site 'Ready To Go,' Ald. Says, As Demo Permits Issued

By Josh McGhee | November 7, 2016 6:00pm
 Cuneo hospital sits near Clarendon and Montrose avenues in Uptown.
Cuneo hospital sits near Clarendon and Montrose avenues in Uptown.
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Flickr/Mark Susina

UPTOWN — The former Maryville Academy's days are numbered.

Last week, the site was officially sold to JDL and Harlem Irving, Ald. James Cappleman (46th) said in a newsletter Monday.

On Nov. 2, demolition permits were issued for the properties at 810 W. Montrose Ave. and 750 W. Montrose Ave., according to Curbed Chicago.

The $128 million project will include 381 residential units and Treasure Island Foods, Cappleman said.

The project has been in the works for several years and has become a point of controversy because of the use of TIF funds for private developers and the amount of affordable housing.

Five percent of the units in the building — amounting to 20 total units — will be affordable units, with half of those units reserved for households earning less than 50 percent of the area median income, according to a report from the Department of Planning and Development.

The number of affordable units in the proposal has come under fire by housing activists. Market-rate studio apartments would cost $1,688, one-bedroom apartments would cost $2,079 and two-bedroom apartments would cost $2,637, according to the report.

The Clarendon Montrose TIF District was created in 2010 to foster development near Clarendon Park. The 31-acre district "is characterized by vacant institutional buildings, public open spaces and community facilities" with no tax-generating properties in the district when it was formed, according to the City of Chicago website.

Of the $15.88 million in TIF funds, two-thirds of the funds will go towards renovating the Clarendon Park Community Center, 4501 N. Clarendon Ave., and "to contribute to the Low Income Housing Trust Fund," Cappleman said.

Once the full TIF funds have been generated and the center has been rehabbed, "I would want to close this TIF," he said.

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