The 18-story postmodern mixed-user than stands at 4334 North Hazel Street may soon receive some significant updates and changes in appearance. Designed by Stanley Tigerman, noted Chicago-based architect and vocal critic of Mies van der Rohe's brand of modernism, the Pensacola Place tower was originally built in 1981 and is a product of a time when architects began reintroducing ornamentation and neoclassical shapes into commercial and residential designs. And as Uptown has changed over the decades, the PoMo Pensacola Place is being targeted for a major redevelopment. In April, developer Waterton Associates purchased the tower for $66 million and expressed their intentions to buff the development's amenity offerings to appeal to today's renters. And Waterton Associates has tapped Brininstool + Lynch for the project, which would not only see updates to the Pensacola Place tower, but would also bring a new addition for townhouses along Montrose Avenue.
Similar to other areas throughout the North Side, Uptown is currently witnessing a boom in investment, particular the redevelopment of older buildings into trendy micro rental properties loaded with amenities. Back in April when Waterton purchased the property, the company told Crain's that they believed Pensacola Place had a lot of potential. And the plan will join several other major proposals today at the Chicago Plan Commission where it will be formally presented to the city for approval. If the proposal moves ahead as planned, Waterton could start construction as early as next spring and have the redevelopment completed by winter 2017/spring 2018.
·Tigerman's Postmodern Pensacola Place Sells for $66M [Curbed Chicago]
·Pending Sale Could Bring Rehab to Uptown's Pensacola Place [Curbed Chicago]
·Previous Uptown coverage [Curbed Chicago]