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New Target Could Be Coming To Sheridan Road, Images Of The Development Released

Street-Viewing-North-768x532The Loyola area intersection where Sheridan Rd, Broadway Ave. and Devon Ave. meet, could get a lot more congested.  A new mixed use development that will include a smaller 23,000 sq ft flexible-format target and a 111 unit, 7-story ‘affordable’ rental apartment high rise is proposed on the 6400 block of N. Sheridan Road.

In a statement put out by Alderman Joe Moore of the 49th Ward, he shared the first detailed images of the project. The name for the development is officially called ‘The Concord At Sheridan’ and will be located directly north of the 22-story, 436-unitCaroline Hedger Apartments for seniors.

It was announced last June that Three Corners Development entered negotiations with the CHA who currently owns the tract of land. According to the Alderman, Three Corners reached a contingent agreement with the CHA to lease the CHA’s property for 99 years and develop the site for housing and retail use this past Fall . In December, Three Corners entered into a contingent lease with Target to become the anchor retail enter for the development.

Many residents, however, have voiced concerns about the project including increased traffic congestion in the area.

“The proposed development calls for 133 below-grade parking spaces for residents and retail customers and a left-turn bay on Sheridan Road to allow northbound traffic to enter the garage without backing up traffic,” said Alderman Osterman.  “Additionally, I will be working with the Chicago Department of Transportation to explore additional improvements on Sheridan that would allow for better traffic flow and a more pedestrian friendly environment.”

The Alderman also announced an upcoming public meeting regarding the development. The event will take place Monday, January 30th, 7 p.m., at Loyola University’s Crown Center for the Humanities, 1001 W. Loyola Ave. Parking is available at Loyola’s parking garage, which is just east of the CTA tracks and accessible off of east-west Sheridan Road.

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