We warned you that this would be a Hyde Park-heavy week. Earlier this week a commenter asked for an update on Village Center, another Antheus Capital development, so here you go. The Plan Commission approved the mixed-use development in August, and according to Peter Cassel with Antheus Capital/MAC Properties, the zoning change was completed in the fall. Current plans call for 179 residential units, 15 percent of which will be affordable. Previously, plans called for condos, but Cassel says he isn't sure whether the residential portion will be condos or rentals. The development will also include 110,000 square feet of retail and 400 underground parking spots. The high-rise will be 22 stories (down from 24) and the mid-rise will have nine floors. As with Solstice on the Park and the Shoreland and Del Prado gut-rehabs, Studio Gang is designing the the two-and-a-half acre development ("I guess we're predictable," Cassel says).
So when will it break ground? Not immediately. Cassel says they're working to secure an anchor tenant for the retail space, and once they do they'll look to lay out a construction schedule. He's in talks with different retailers, but he isn't ready to reveal any names. Over the summer, Antheus chairman Eli Ungar offered a little insight into the type of retail he'd like to bring to the community, telling ChicagoTalks:
"There are a number of missing retailers in Hyde Park. ... There is a shortage of apparel stores and house-ware stores. I don't want a monolithic power center where you get three big national retailers. I'd be much happier with a mix of local retailers and national retailers."There won't be a Hyde Park retail shortage if Village Center and/or another nearby mega-development get built. Just two blocks south of Village Center, Vermilion Development is set to break ground in late summer on the Harper Court redevelopment, which will include roughly 250,000 square feet of commercial space. (We'll have an update on that development soon.)
· Complete Curbed Chicago Coverage of Hyde Park [Curbed Chicago]