New renderings have been spotted for a controversial new development planned for Montrose and Clarendon that has divided Uptown residents over the use of a tax increment financing (TIF) subsidy and the lost battle to save the modernist Cuneo Memorial Hospital. When the project was first publicly unveiled in December 2012, JDL Development revealed a 332 foot tall Hartshorne Plunkard Architecture (HPA) designed south tower with about 776 apartment units. Later on at a follow up community meeting last November, JDL unveiled a trimmed down south tower with fewer residential units. As of last month it was unclear whether the project was moving forward or not.
According to the information found on BuzzBuzzHome, the development is listed as containing 749 units. The new renderings show a much taller south building than the one in the rendering that was unveiled at the community meeting in November, however the presentation did list 749 residences as the magic number. When the project was in its early planning stage, JDL had requested a $32 million TIF subsidy for the $220 million proposal, however, the city offered the developer only $14 million in TIF dollars earlier this year. A previous report from DNAinfo suggested that the developer may have gone back to the drawing board due to the less-than-hoped-for TIF amount, but at this point, it's unclear if JDL has decided to move forward with a final design that resembles an earlier plan more than the one presented in November. JDL did recently score an $80 million construction loan for a new South Loop apartment tower. We have reached out to JDL Development to learn more about the renderings and details of its Montrose and Clarendon project.
UPDATE: We just heard back from JDL, who has confirmed that the project is currently on hold. Unit counts, building heights and the development's design are not finalized.
·Montrose and Clarendon [BuzzBuzzHome]
·Montrose and Clarendon [JDL Development]
·Developer Could Change Plan for Luxury Housing Amid Financial Uncertainty [DNAinfo]
·Updated JDL Maryville Development Plans Presented [Uptown Update]
·Closer Look at JDL's Plans for Old Maryville Academy Site [Curbed Chicago]
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