Jan. 16 meeting set on Belmont-Narragansett development, former Peter Pan restaurant site




by BRIAN NADIG

Updates on the redevelopment of several properties at the Belmont-Narragansett intersection will be given at a community meeting which Alderman Gilbert Villegas (36th) will hold at 5:30 p.m. Tuesday, Jan. 16, at the West Belmont Library, 3104 N. Narragansett Ave.

Villegas held a meeting in 2016 on proposal to build a mixed-use development with about two-dozen apartments at the northeast corner of the intersection, where the former Peter Pan restaurant was once located, but the project reportedly has faced several delays.

Villegas’ policy director Justin Heath said that the alderman called the meting not only to update residents but to also motivate the developer to move the project forward. He said that the development would occur the site of the intersection’s corner building, which has been vacant for years, and possibly at least one other neighboring property.

Heath said late last week that the developer has indicated that the project would be “scaled down” but that no details had not been provided to the alderman’s office.

The projected rents which were announced in 2016 were around $2,000, Heath said. Plans also called for a maximum height of four stories.

Also scheduled to be discussed at the meeting is the former CVS Pharmacy, 6355 W. Belmont Ave. The building is vacant.

The store was one of 11 locations which the pharmacy chain closed last year in the Chicago area. The Belmont store was profitable, but the company made a decision close stores where it was leasing the property, Heath said.