The development planned for the stretch of Addison street directly across the street from Wrigley Field made the news again this week with a revised plan and public support from Alderman Tom Tunney.
We wrote about the development back in 2008 when plans included 150 apartments, a hotel, a 500 car garage and 100,000 square feet of retail space. The plans then called for a 22 story building.
Today’s revision includes 399 cars in an underground garage, and a building that is a few feet shorter than Wrigley Field across the street so residents and hotel guests don’t have free views of games.
Both the hotel and the apartment section will be smaller than originally planned. Your Guide has concerns, however, that the development might be over burdened with expensive upgrades. The original plan called for the parking garage to start at ground level, with retail only along part of the street. Now the entire garage will be underground. This is wonderful from a neighborhood and aesthetic perspective. But now the entire building will cost millions more to build, and offer less revenue opportunity.
Let’s hope the economics work, and hold, because this looks like a beautiful addition to the neighborhood.