A developer is offering a downsized proposal for the site consisting of the Jade Garden restaurant and adjacent properties that seeks to address neighborhood concerns about the height of buildings on fast-evolving South Park Street.
Walter Wayne Development, based in Madison and Rochelle, Illinois, has a purchase agreement with owner Sue Jiang to buy the land, which includes Jade Garden and three other properties, to develop a three-story, mixed-use project that would offer 2,600 square feet of first-floor commercial space, 44 apartments, 40 enclosed or underground parking spaces and 19 surface spaces.
Ken Notes: I just hope we remember that height can help reduce a developers overall costs and this should lower rents. I would negotiate for lower market rate units say sub $800 and keep the height. Just a thought.
Share this article on you social outlets
Our Sponsors
- - Volume: 7 - WEEK: 51 Date: 12/19/2019 11:58:52 AM -