Waterton revealed plans to expand Pensacola Place, the 18-story Uptown apartment building it bought for $65.75M in April from RMK. Big plans.
Waterton wants to add 160 new units to the complex at 4334 N Hazel, which already boasts 264 apartments, Crain's reports. The majority of the proposed units would be built atop a parking deck on the existing structure. Waterton will also add ground-level retail on the west end of the property, including a Jewel supermarket. The developer sees an opportunity to attract renters from Lakeview and Lincoln Park to the building, which was built by Stanley Tigerman in 1981.
Waterton's proposal will go reviewed by the Plan Commission, and already has the blessing of 48th Ward Ald. James Cappleman. [Crain's]
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