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Developer w/ Stake in Atrium Village Eyes River West Apts

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Gonnella Baking Co's days are numbered at 1001 W Chicago Avenue, as the producer of breads and yeasty perfume has decided to sell its 1.8-acre site to Seattle-based developer Security Properties for an undisclosed sum. Crain's broke the story this morning that Security Properties, a co-owner of the Atrium Village apartment complex (itself in line for big things), has a contract to buy the property for teardown and construction of some 300 apartments. That's a large infusion of people at a medium-density location, though quite welcome considering proximity to the Blue Line and services. The developer has had "very preliminary" discussions with the Neighbors of River West but have presented no formal plans to date, although we do know that FitzGerald Associates Architects has been hired. River West includes active industry, mid-rise condo buildings, single-family housing, and small and large retail, and Neighbors of River West prez John Bosca stresses the importance of maintaining a happy balance. "You don't want to create an adversarial resident vs. industry," he said. Gonnella, for their part, are consolidating workers at an Aurora bakery. How much balance can be struck when the outmigration of local industry continues?
·Seattle developer plans River West apartments [Crain's]
·Baking company looks to sell River West property [Crain's]