The developers of Freshwater Plaza in Walker’s Point and city officials have reached a compromise on the third phase of the project.
After being approached by a national retailer this fall, Wangard Partners wanted to eliminate plans for a three to six-story office building along Greenfield Avenue and instead build a stand-alone retail store.
The Department of City Development objected. The $5.3 million in city financing the project had received anticipated office tenants.
Freshwater Plaza is a four-phase 180,000-square-foot development that includes a Cermak Fresh Market grocery store and a three-story apartment building.
On Tuesday, Rocky Marcoux, commissioner of the DCD told the city’s Zoning, Neighborhoods & Development Committee that Wangard has agreed to replace the office building plans with a three- to six-story mixed use building that will include retail on the ground floor, parking above and residential on the top floors.
“We’re fine with residential, especially if it is executed how it has been,” Marcoux said, referring to the apartment and retail building that is already open at Freshwater Plaza. “This works well and it moves the project forward. The developer gets what he wants, which is retail, and we maintain three to six stories.”
Wangard will be meeting with city planners to bring forward a new detailed plan development for the site.
