1400 N. 14th Street will be developed by a partnership among Metropolitan Development Enterprises, an experienced and successful Chicago-based residential developer, and two local developers. The 22-story newly constructed building on the site of the Ehrlich’s Cleaners building will include approximately 13,500 sq. ft. of first floor retail and 166 residential condominiums, along with in-building parking. Sales prices are expected to range from $256,000 to $794,000, with marketing and presales beginning in May. The building will be designed and constructed as a “green” building, with features including a “green roof” on the outdoor pool level, and is expected to achieve a LEED certification of silver or better. The South Grand/Juniata development is a unique public/private partnership TIF inspired by Alderman Steve Conway, involving the South Grand Community Improvement District, City Treasurer Larry Williams, Commerce Bank and developer Steve Anrod. The primary purpose of this TIF is to create additional parking to serve the thriving South Grand ethnic business district. Mr. Anrod’s company will build fifty residential condominium units along the rear portion of the former Commerce Bank parking lot located between Hartford and Juniata. The Community Improvement District and the City Treasurer will develop the front portion of the lot as parking for employees and customers of the Grand Avenue Business District. This solution addresses a loudly expressed concern of both residents and businesses in the area.
Over the next few months, City residents will have the chance to learn a lot more about two interesting projects. The TIF Commission has scheduled public hearings on a new building in the Washington Avenue loft district and on new condos and parking in the S. Grand ethnic business district.