Controversy Over Developments in Pilsen
Whether or not Pilsenites are excited about this new development, a 500 unit apartment development is coming to Pilsen between 16th to 18th streets and Newberry Avenue to Peoria Street.
The New York-based developer Property Markets Group has named the project PMG Windy City, although the PMG website failed to name Pilsen in its job description.
The project will cover 7.85 acres and will provide a mix of 1, 2, and 3-bedroom units, which in theory means that the new highrise will provide student housing. Of course, the big fear is increased rent prices, especially if this is supposedly student housing, but Danny Solis, Alderman of the 25th Ward, has called for 21 percent of the units to be affordable housing. Significantly less than half, but maybe 21 percent of the new residents will be satisfied.
Pilsen Alliance board members have written that they are “outraged”
that the pending project moved forward without discussion by the Pilsen community, although Alderman Solis claims that community support will be built through the Pilsen Development Committee, comprised of members from the Resurrection Project, the Pilsen Neighbors Community Council, the 18th Street Development Corporation, and Alivio Medical Center. The Pilsen Alliance, however, are not a part of this committee.
Newman Realty’s very own Jorge Vega, a Pilsen resident, speaks of the divide that this new development has created in the community.
“I’ve been told from Pilsen property owners that they’re excited to see rent prices go up and some value added to their homes, while others feel that they are being priced out. Now more than ever, property owners should consider speaking with local real estate experts and financial planners about the impact this will have on them. Unfortunately, the only thing owners can change is how they manage their own property and finances.”
Solis also mentioned to DNAInfo that the plan calls for 1.5 acres of green space on the site. In theory, there should be murals, sculptures, and art around the new space that would embody the current Pilsen culture.