The Sansone Group has made a few changes to a proposed residential development planned for The Hill neighborhood and released a rendering for the project.
In May, Clayton-based Sansone Group said a proposed $45 million development would have fewer than 375 apartments, senior housing and single-family homes. At that time, the developer hadn’t yet finalized its plans for an 11-acre site it has under contract that was formerly occupied by American Stove Co. and other manufacturers.
Wednesday, the Sansone Group said the development cost of the “high-end residential property” at 4932 Daggett Avenue will range between $35 million and $40 million and include 292 apartments, 58 townhouses and 15 single family homes. The developer began notifying neighbors of the project’s scope this week.
The project must still receive approval from city officials, and the Sansone Group and Chicago-based real estate management firm Draper & Kramer said Wednesday they plan to begin those discussions. Pending approvals, the project is slated to begin construction next spring and span 24 months.