Developers discussed plans for a land swap on Thursday evening which would see a major addition built to The Link apartments on Emerson Street in Evanston and the addition of parking at Sherman Gardens Co-op.
Under Focus Development and CA Ventures’ proposal, the co-op would sell its open parking lot north of the existing Link building to developers.
It would become the site of Link 2.0, a nine-story building with 228 apartments.
In return, the developers would acquire the Byline Bank drive-thru and demolished Las Palmas restaurant site just west of Sherman Gardens and build a two-story, 96-space parking lot there for co-op residents.
The developers told residents in the online meeting that the existing 241-unit Link building is 98% occupied. It has 166 parking spaces, of which only 60 are currently rented.
The planned new building would add an additional 66 parking spaces for a total of 0.49 spaces per unit.
Some of The Link’s excess parking may end up being leased to the Cook County Housing Authority for use by residents of its planned new high-rise, The Emerson, at 1900 Sherman Ave., but Focus Development’s Tim Anderson said that no agreement had yet been reached on this.