Stop a proposed 50-unit MCZ development at 1711-1755 Winnebago
Stop a proposed 50-unit MCZ development at 1711-1755 Winnebago
The Issue
A PUBLIC PETITION to stop the proposed 50-unit, two building rental property being proposed by MCZ Development for two reasons: a) in order to develop a smaller, more respectful development that is in keeping with the rest of the neighborhood; b) in order to allow Alderman Waguespack and his new Ward 32 constituents a voice in the decision.
UPDATE on timetable: As of last night, Alderman Moreno's office has shared that it does not have a timetable for when a final decision will be made. Earlier in the week, it was said to be by Friday, September 28, 2012. Your opposition must be heard.
Where We Are Today
"Raymond Valadez from the 1st Ward Office told this writer that the vote from the meeting was 21-21, but that there was also “a petition from six or seven residents who couldn’t be there that was in favor of the development.”
Of the petition, Valadez said, “It was exactly what we needed to get [the development] approved.”
When asked if the petition could be made public, I was told that residents can come by the ward office to see the petition but that they would not be making it public." - Chicago Pipeline
Ward Map Changes
The block in question has been approved into the newly drafted Ward 32 map - while it remains under the auspices of Ward 1 until the new map takes affect. Residents in the area have been issued Voter Registration cards under the NEW ward map - making us Ward 32 - despite the new map not being implemented, with no plan to implement it by Mayor Emmanuel other than "by 2014".
When this development is complete (it will take 14-18 months to complete based on the developer's estimate), it will be under the auspices of Alderman Waguespack and Ward 32. And voters will have no ability to voice their opinions - good or bad - about Alderman Moreno's decision and the impact it has on our neighborhood.
What's Proposed
What began as a 60 rental unit development has been downsized to a 50 rental unit proposal with a total of 56 parking spaces incorporated. 10% of the development would be Affordable Housing.
The space was orginally slotted as a Planned Development which allowed for retail on the side facing Milwaukee and 45 units of residential on the Winnebago side.
Despite the sunset clause on the Planned Development having expired, MCZ Development is now requesting a zoning change in order to up the number of units from 45 to 50.
The zoning request empowers the developer to move from 3-story, lower density buildings to 5-story, higher density buildings.
About MCZ, the Developer
There are many concerns about the ability of MCZ Development to manage and maintain the property. At both the May and September meetings, when MCZ representatives have been asked why the units will be rental versus condo, the developer explained that "economics" are behind that decision.
They will also manage the property directly. At the September meeting, they expressed that this would be the largest development they have built in Chicago.
They expect to garner rental rates from $1,800 (1100 sq ft, 1 bedroom units) - $2,600 (1600 sq ft, 3 bedroom units), with 10% of the building being allocated to Affordable Housing. Rental prices for comparable units in the area do not support this pricing.
Here is an article in September 19th's Chicago Real Estate Daily about the developer that includes past lawsuits and problems with financing:
A Report from the May Meeting
A Report from the September Meeting
Considerations Expressed by the Community
Ward 32 versus Ward 1 - This building will be under the auspices of Alderman Waguespack of Ward 32 once complete, despite the fact that it is being championed by Alderman Moreno from Ward 1.
Finances - MCZ Developers history of funding issues, including a 20.4 million dollar judgment against them and a pending lawsuit for $7 million dollar loan. Both suits involved banks. Thefirsts tep to applying for construction loans is to request the zoning change.
Maintenance - MCZ will also be the property managers. What some say is an overestimate of rental pricing could rapidly become a problem without enough cash on hand to continue to maintenance the property.
Density - 50 new rental units
Parking - 56 total spaces for a total of 114 rental bedrooms
Traffic & Congestion - at an already dangerous corner (Milwaukee/Leavitt/Wabansia)
Character - the majority of the buildings in this part of the neighborhood are 3 stories or less. These buildings are five stories.
How to Be Heard
If you disagree with a decision to move forward with this development as is, please sign this petition and we will share your signature.
You may also contact Alderman Moreno's office directly at 773 278 0101. Ray Valadez is his Chief of Staff.
Alderman Moreno has expressed that the opinions of these three community groups involved in this conversation will weigh heavily on his decision. Please also share your opinions with them. They include:
Bucktown Triangle Association
1863 N. Winnebago, 60647
312-315-6047
Wicker Park Committee
http://wickerparkcommittee.com/
Bucktown Community Organization
http://www.bucktown.org/
312-409-4003
Thank you for your interest and willingness to unscramble complicated issues for the betterment and preservation of our neighbohood.
Sincerely,
Your Neighbors
The Issue
A PUBLIC PETITION to stop the proposed 50-unit, two building rental property being proposed by MCZ Development for two reasons: a) in order to develop a smaller, more respectful development that is in keeping with the rest of the neighborhood; b) in order to allow Alderman Waguespack and his new Ward 32 constituents a voice in the decision.
UPDATE on timetable: As of last night, Alderman Moreno's office has shared that it does not have a timetable for when a final decision will be made. Earlier in the week, it was said to be by Friday, September 28, 2012. Your opposition must be heard.
Where We Are Today
"Raymond Valadez from the 1st Ward Office told this writer that the vote from the meeting was 21-21, but that there was also “a petition from six or seven residents who couldn’t be there that was in favor of the development.”
Of the petition, Valadez said, “It was exactly what we needed to get [the development] approved.”
When asked if the petition could be made public, I was told that residents can come by the ward office to see the petition but that they would not be making it public." - Chicago Pipeline
Ward Map Changes
The block in question has been approved into the newly drafted Ward 32 map - while it remains under the auspices of Ward 1 until the new map takes affect. Residents in the area have been issued Voter Registration cards under the NEW ward map - making us Ward 32 - despite the new map not being implemented, with no plan to implement it by Mayor Emmanuel other than "by 2014".
When this development is complete (it will take 14-18 months to complete based on the developer's estimate), it will be under the auspices of Alderman Waguespack and Ward 32. And voters will have no ability to voice their opinions - good or bad - about Alderman Moreno's decision and the impact it has on our neighborhood.
What's Proposed
What began as a 60 rental unit development has been downsized to a 50 rental unit proposal with a total of 56 parking spaces incorporated. 10% of the development would be Affordable Housing.
The space was orginally slotted as a Planned Development which allowed for retail on the side facing Milwaukee and 45 units of residential on the Winnebago side.
Despite the sunset clause on the Planned Development having expired, MCZ Development is now requesting a zoning change in order to up the number of units from 45 to 50.
The zoning request empowers the developer to move from 3-story, lower density buildings to 5-story, higher density buildings.
About MCZ, the Developer
There are many concerns about the ability of MCZ Development to manage and maintain the property. At both the May and September meetings, when MCZ representatives have been asked why the units will be rental versus condo, the developer explained that "economics" are behind that decision.
They will also manage the property directly. At the September meeting, they expressed that this would be the largest development they have built in Chicago.
They expect to garner rental rates from $1,800 (1100 sq ft, 1 bedroom units) - $2,600 (1600 sq ft, 3 bedroom units), with 10% of the building being allocated to Affordable Housing. Rental prices for comparable units in the area do not support this pricing.
Here is an article in September 19th's Chicago Real Estate Daily about the developer that includes past lawsuits and problems with financing:
A Report from the May Meeting
A Report from the September Meeting
Considerations Expressed by the Community
Ward 32 versus Ward 1 - This building will be under the auspices of Alderman Waguespack of Ward 32 once complete, despite the fact that it is being championed by Alderman Moreno from Ward 1.
Finances - MCZ Developers history of funding issues, including a 20.4 million dollar judgment against them and a pending lawsuit for $7 million dollar loan. Both suits involved banks. Thefirsts tep to applying for construction loans is to request the zoning change.
Maintenance - MCZ will also be the property managers. What some say is an overestimate of rental pricing could rapidly become a problem without enough cash on hand to continue to maintenance the property.
Density - 50 new rental units
Parking - 56 total spaces for a total of 114 rental bedrooms
Traffic & Congestion - at an already dangerous corner (Milwaukee/Leavitt/Wabansia)
Character - the majority of the buildings in this part of the neighborhood are 3 stories or less. These buildings are five stories.
How to Be Heard
If you disagree with a decision to move forward with this development as is, please sign this petition and we will share your signature.
You may also contact Alderman Moreno's office directly at 773 278 0101. Ray Valadez is his Chief of Staff.
Alderman Moreno has expressed that the opinions of these three community groups involved in this conversation will weigh heavily on his decision. Please also share your opinions with them. They include:
Bucktown Triangle Association
1863 N. Winnebago, 60647
312-315-6047
Wicker Park Committee
http://wickerparkcommittee.com/
Bucktown Community Organization
http://www.bucktown.org/
312-409-4003
Thank you for your interest and willingness to unscramble complicated issues for the betterment and preservation of our neighbohood.
Sincerely,
Your Neighbors
Petition Closed
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Petition created on September 24, 2012