The Chicago City Council has approved the redevelopment project at 5200 W Chicago Avenue in Austin. As previously reported by YIMBY, the Heartland Housing Alliance and Oak Park Regional Housing Center have planned an ambitious mixed-use project at the site. With the final hurdle completed, Valerio Dewalt Train Associates, who are heading the residential build of the development, can take steps toward construction including filing the necessary permitting.
With City Council approval, the project is free to commence. The total build is projected to cost $45 million, and as previously reported, will be split into two phases. This differentiation is done to separate the residential development from the bank restoration project. As indicated, the residential building will be the first phase and is expected to commence in November 2022. The restoration of the Laramie State Bank, which is led by Bauer Latoza Studio, is expected to begin sometime in 2023 and last through at least 2025.
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