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Developer Hopes To Start Building Lake View Station by Year's End

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On Friday, the blog Uptown Update announced that a community meeting will be held next week for the proposed Lake View Station development in Uptown. According to that post, developer Sedgwick Properties is seeking a City Council vote on the development by the end of June. We caught up with Sedgwick president Marty Paris by phone, and he says he expects demolition of the existing buildings can begin in late summer / early fall, and he hopes to begin building before the end of the year. A few things have to happen first, though. For one, the developer still needs to secure a loan. Paris says he's currently in talks with lenders, and that the outlook is positive. "Clearly, financing is available for this type of project," he says, noting that Magellan, Smithfield, and Hines all landed construction loans for apartment buildings in recent months. Roundy's recently signed a lease for a 45,000-square-foot Mariano's Fresh Market at Lake View Station, and the developer also expects to lease some commercial space to a fitness club. Paris still isn't sure whether the first phase of the development will include a residential portion, but if it does, he says it'll definitely be rental apartments.
· Meeting Regarding Maryville Development June 7 [Uptown Update]
· Developer Resumes Lake View Station Talks in Uptown [Curbed Chicago]