(Sketch of California-facing view taken from project renderings last year)
We’ve just heard from Chicago-based megadeveloper Equity Residential for the first time since the company closed the deal to buy the California/Alaska/42nd site long owned by Charlie Conner. The day the deal was finalized, we’d sent an inquiry looking for comment – no response, but we renewed the request today, and just heard back from Equity spokesperson Marty McKenna.
He says Equity expects to break ground “within the next year.” He also confirms they are going ahead with the project as per the plans already approved by the city, two buildings totaling almost 200 apartments, and says they will honor the agreement made with community members regarding external elements of the project.
The remaining business tenants are renting month-by-month, he says, adding that since the new development “will have a retail aspect,” they’re also open to the possibility that all or some of them might want to be part of it. (Some have already found new locations, as most recently mentioned here just yesterday.) Though the site has its land-use approvals, a demolition permit would have to be sought before any construction could start; you can watch the project’s city webpages for signs of that as the year goes on.