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Waveland Partners Unveils Plans for Edgewater Medical Center

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For nearly 10 years, the Edgewater Medical Center has sat empty at the corner of Ashland and Hollywood avenues in Edgewater. Now, a big developer has stepped up to the plate, presenting a comprehensive redevelopment plan for the site. As the New York Times reported in November, neighbors have been clamoring for a park on the site, while Ald. Patrick O'Connor has said that the property would be better exploited with a condo development. Developer Waveland Partners is floating a sort of compromise between the two. The plan, as outlined on the Residences at Edgewater Park website, calls for 295 "luxury residences," 16 single-family homes to the west of that, and a small (81' x 108') park at the corner of Hermitage and Edgewater. Waveland has already conducted traffic studies (although the results haven't been released yet) and shadow studies (see slide 6 above). And they've anticipated residents' desire to convert the entire 2.68-acre site into a park:

"Waveland Partners is happy to discuss ways in which the community can make the entire site a park. This would include at a minimum paying for the underlying property and the improvements to the site. However, the Superintendent of the Chicago Park District estimates that in order to purchase the property, demolish the existing structures and build a community park, the residents and the city would have to raise approximately $20-25 million."Nothing new there. Waveland says they will seek community input on their plans this winter, and then they'll look to present them to the Plan Commission. Hat tip: mohammed wong · A Dangerous Eyesore Endures, Hostage to Financial Concerns [NY Times)
· Official Website: The Residences at Edgewater Park [Waveland Partners]