The long-planned mixed-use affordable housing project in Lincoln Square won critical approval this week.
The Chicago Planning Commission has approved plans for Community Builders and Boa Company to construct a six-story building at 4715 North Western Avenue. urbanize chicago report. The decision came after a late vote over concerns that the development included parking.
When the project, originally proposed in 2019, received a low-income housing tax credit loan in late 2021, the city requested that the project’s parking lot be reduced and the parking lot entrance moved from Northwestern Avenue to an alleyway. Did.
The slightly altered plan, designed by architect DesignBridge, features 63 new affordable homes, up from the 51 originally planned, as well as 4,995 square feet of first-floor retail and expanded outdoor public space. is required. Parking has been reduced from 50 to 36. There are 18 public parking spaces and 18 private spaces for residents. In addition, 66 bicycle parking lots are available.
Despite city concerns, the parking lot entrance will remain along North Western Avenue.
All 63 residential units will be marketed as affordable housing. There will be 25 studio units, 29 one bedroom units and 9 two bedroom units. They are sold to residents of his 30, 60, or 80% of the area’s median income.
Back in September, Chicago’s Community Development Board approved the sale of city-owned land at 4715 North Western Avenue for the project. In addition, he was granted an $8 million tax increase loan for the project.
Zoning applications will also begin seeking approval from the Zoning Commission and City Council. Construction is expected to start as early as spring 2023.
— Victoria Pruitt