A developer has come forth with a plan to build on the site of the failed Bluewater condo project in Edgewater, DNAinfo has reported. Similar to many other condo projects that felt the pressure during the financial crunch of 2008, the Bluewater project spent several years in the making but was never actually built. However, Greystar Development has recently proposed an 18 story apartment tower for the site at 5440-50 N. Sheridan Road. According to the city's legislation records, Alderman Harry Osterman introduced the plan to his City Council colleagues last month. The new proposal is nearly the same in size and density as Bluewater, as Greystar is looking to build 190 apartments at the location. The project is in its early stage, so it doesn't appear that there are any renderings available at the time.
·New 190-Unit Tower Proposed on Sheridan Where Former Project Expired [DNAinfo]
·Resurgent Bluewater 5440 To Offer High-Rent Edgewater Apts [Curbed Chicago]
·Previous Edgewater coverage [Curbed Chicago]