
Four council members voted against the financing arrangement for the deal.
Four council members voted against the financing arrangement for the deal.
The regulations regarding income-restricted housing went into effect in July 2022. Hundreds of projects are still working to be “grandfathered in” under the previous rules.
The head of BMC Investments said the project has been in the works for 9.5 years. Midway through, he sought a partner.
The famed jazz club closed in 2020 after 87 years.
The ViewHouse owner purchased the building in the 3400 block of Walnut last year.
A moratorium on redevelopment of the properties, currently set to expire next month, will be extended, per a City Council member.
The Solarium building has been in receivership since January.
Cascades will be the sixth building in the southern suburbs to enter receivership in the past year.
Five years after the site was rezoned, Zocalo is eyeing a June groundbreaking — if city leaders approve a DURA-created urban redevelopment plan.
The firms plan to build another apartment building, but the design of it will be tamer.
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