A new permit has been issued for a four-story, nine-unit residential building at 466 North Paulina Street in West Town. The permit, which was applied for on August 13 and issued on November 21, allows for the construction of a mixed-use building with retail on the first floor, garage parking for nine cars, and a rooftop deck.
Plans were designed by architect John Hanna, and development is being led by owner 1701 W Grand LLC. The planned cost of the project is $5,000,000.
Permit fees totaled $35,280.45, with $375 paid so far and $34,905.45 remaining unpaid. Transit nearby the property includes stops for the 9, X9, and 65 bus lines.
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550k a unit WITH ground floor retail in base making each unit probably closer to 500k or less…
Come on Chicago public housing
Are you suggesting the Chicago Public housing costs too much, in comparison to this?
The cost of Chicago public housing to build new units or just the city acting as a developer.
The one guy on here has been extra critical of the city (sorry, blanking on name acronym) but they’re not wrong to be. It’s clear the private sector is better at delivering truly affordable/market rate housing. I really wish there was a way in which the city could have a private-public partnership that doesn’t also lead to inevitable corruption. But in some way… I kinda feel that manner is inevitable and I’d rather the closed doors deals deliver rather than run a crisis of more taxes and less tax base.
By-right mixed-use moderate density? What a novel idea…