It's, at best, game deferred for The Lighthouse at Montrose Harbor, in light of this morning's rebuke by Ald. James Cappleman. The contentious project most recently went before the community last Thursday and the opposition was pronounced enough to turn the tides against developer Sedgwick Properties. Releasing a statement, Cappleman had this to say:
Throughout this community process, I purposefully remained neutral to ensure committee representatives heard from the community, the developer, and the City in as much of a respectful manner as possible. Tonight, I am proud to say that the process we have created has been a success. Due to many of the thoughtful concerns regarding this proposal, including the amount of TIF funds requested and the density and size of the development, I have concluded that I cannot support this development at this time. Twenty-seven members out of thirty that participated in the meeting voted no to this project. Out of the twenty-seven that voted no, 14 had specific conditions and changes that if were met, would reconsider. The committee seriously reviewed the pros and cons of this proposal and are willing to forgo this development proposal at this time. We will communicate the must-have changes of the 14 committee members to Sedgwick to see if they are willing to make these changes and we will get back to the committee with their response in the coming weeks.
Chatter over at SkyscaperPage tipped us off to the news. It seems, for the moment, "The Lighthouse" is going the way of Sedgwick's previous "Lake View Station", despite having eliminated one of two 30+ story towers with scaled-back density. What eluded-to demands will be laid upon Sedgwick, and will they be willing to forfeit TIF funds? TIF funding was also a big hang-up in debating Lake View Station. How long can Sedgwick stick to their guns as the community grows less and less receptive? ·Zoning and Development Committee Meeting update [46th Ward]
·Highrise Projects & Contruction Thread [SkyscraperPage]
·Lake View Station Renders itself back to Relevance [Curbed Chicago]