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Ravenswood Station, Meet Ravenswood Terrace

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[Ravenswood Terrace]

It seems Ravenswood Station is going to include residences after all, just not under a single developer. Questionable for a time, the Central Square Journal is asserting that developer Greg Merdinger has active plans filed with Ald. Ameya Pewar's office for Ravenswood Terrace, a 162-unit complex of attached townhouses and at least one 6-story building. The developers of Ravenswood Station, Great Lakes Partners and The Taxman Company, presented their retail proposal at a community meeting last night. Ald. Pewar made an aggressive stand for the retail project, suggesting he'll charge ahead whatever the community's feelings on the matter in order to keep Mariano's on board as the anchor tenant. Meanwhile, a hush enshrouds Ravenswood Terrace. There was considerable opposition back in '09 to Magellan Development Group's 11-story condo tower, which was erased by Spring 2010. This could explain the cautiousness. However, reports CSJ, developers have made clear to Ald. Pewar that neither component will proceed without the other. And— oh yeah— they'll by needing $4.4M in TIF money too. The above renderings of Ravenswood Terrace by Grec Architects are just concept drawings. If both plans carry through, construction would start this June and finish in early 2013.
·Ravenswood Station project demands TIF and residential component to go forward [CSJ]
·Ravenswood Station pushes retail, suppresses residences [Curbed]