Additional funding has been approved for the upcoming mixed-use development at 3959 North Lincoln Avenue in North Center. The upcoming structure is part of a larger two-building proposal, which includes a separate structure at 3950 North Damen Avenue across the street. Efforts are being led by Ravine Park, Orchard Development, and Brinshore Development.
Site context model of 3959 N Lincoln Ave by LBBA
site rendering of 3959 N Lincoln Ave by LBBA
The five-story structure will focus on redeveloping the existing historic bank building on the street corner along with a rear and side expansion into adjacent parking lots. This is being designed by architecture firm LBBA and will be built separately from the aforementioned second structure. Inside, 3959 Lincoln will offer 64 affordable units for victims of gender-based violence.
Updated floor plans of 3950 and 3959 by Lamar Johnson Collaborative and LBBA
Within the original banking hall will be a retail space and select amenity spaces, along with on-site services including therapy, job assistance, and childcare provided by local nonprofit Apna Ghar. There will also be an 18-vehicle parking garage to support the units above, which will be made up of 14 one-bedroom, 36 two-bedroom, and 14 three-bedroom layouts.
Updated rendering of 3959 N Lincoln Avenue by LBBA
The expansion will be clad in a mix of white brick, black-framed windows, and multi-colored accent panels. It will come with a $33.3 million price tag, which will be funded via the approved $357,000 in city funds, over $18 million in loans, and $14 million in Low-Income Housing Tax Credits. With permits applied for, no timeline has been revealed.
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Title is wrong.
This project is in North Center, not Lincoln Square.
I actually think the design and massing are pretty interesting here. “only” $520k per unit, if I’m reading everything correctly, seems not the absolute worst considering LIHTC and other public funding constraints
As well as that cost including ongoing subsidies & on site operations funding.
That’s 100% incorrect.
The $33m construction budget is ONLY for acquisition, construction, related costs.
All post-completion operating costs (including any rent subsidies) have to come from a different bucket, on an annual budgetary basis.
I do wish the brick wasn’t attempting to match the building here, but overall, nice plug in to the existing building.
Cool design!