http://www.suntimes.com/business/roeder/434752,CST-FIN-roeder20.article
Growing pains on Prairie
REAL ESTATE | Developer's plan for 37-story tower at 21st Street could raise historic district's ire
June 20, 2007
DAVID ROEDER
[email protected]
The fortunate few who live in the historic Prairie Avenue District can be excused for feeling surrounded. While landmark designation has kept buildings small on a block-long stretch of Prairie at 18th Street, the surrounding neighborhood is bursting with high-rises. The latest plan tests the neighborhood's tolerance for tallness south of the Prairie district.
Andrius Augunas, president of Rokas International Inc.,
said he has a contract to purchase a small building at the northwest corner of 21st and Prairie owned by the Pipe Fitters Local Union 597. Augunas wants to put a 37-story residential building on the property at an estimated cost of $120 million.
He said that if he gets city approval to rezone the property, he'll begin a home sales campaign lasting at least a year. Construction then could start in late 2008, said Augunas, who has had success with two other projects in the same area at 2100 S. Indiana and 2300 S. Michigan.
The developer said he has received written support from two community groups for his latest project. The endorsers are the Greater South Loop Association and the Near South Planning Board. That sentiment probably will help the local alderman, Robert Fioretti (2nd), side with the deal.
But many residents have criticized the city for infringing on the spirit, if not the actual territory, of the landmark district by allowing the influx of condos. A check by the Sun-Times last September showed that within a half-mile of the Prairie District, at least 14 major projects encompassing 2,700 homes were planned.
A two-tower development in the 1700 block of South Prairie led to some of the neighborhood activism. Approved by the city, the project calls for towers of 45 and 33 stories arising behind new townhomes, altogether about 500 units.