Residential developer David Dubin plans to acquire the 1.02-acreWest Loop site from Wertheimer Box & Paper Co. and demolish aone-story, 80-year-old building on the property. He would the build33 townhouses, priced in the "high $300s," in three buildings onthe western portion of the site in a courtyard arrangement. Dubinalso plans a five-story condominium building with 34 units, pricedin the "mid $200s." Seven units in the building would be availableto buyers qualifying under the city's affordable housinginitiative.

"You're going to get that?" 42nd Ward Alderman Burton Natarusasked Dubin. "We hope to, and we have experience at it," thedeveloper answered.

However, the development's aesthetics came in for harshercriticism. "You come as close to Tokyo as you can be," says 50thWard Alderman Bernard Stone. "It's the worst plan I've ever seen,and I'm appalled the department (of planning and development)approved it. I find this plan truly shameful."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.