Developer The Hispanic Development Corporation (HHDC) has officially closed on financing for the redevelopment of the historic Pioneer Arcade in Humboldt Park. Along with the approval came an updated rendering for the project located at 1539 North Pulaski Road. HHDC is working with local architecture firm UrbanWorks on the design.
Site map of Pioneer Arcade via City of Chicago
View of 1539 North Pulaski Road via HHDC
Built in 1925, the Pioneer Arcade is an outstanding example of Spanish Baroque architecture in Chicago, a style more commonly seen in neighborhoods such as Uptown. The community-centered recreation hall and retail center served the local area for 80 years before closing. Since then, HHDC purchased the site more than 10 years ago and has been working on redevelopment plans.
Site plan of 1539 North Pulaski Road by UrbanWorks
The site includes the historic structure along with an adjacent vacant lot to the south. The original building’s façade and lobby will be preserved and restored in accordance with its landmark status. Behind it, a six-story addition will be constructed, focusing on affordable residential units for seniors. The development will be supported by a 26-vehicle parking lot in the rear, along with a small garden for residents.
Floor plans of 1539 North Pulaski Road by UrbanWorks
Residents will have access to various on-site amenities, including a fitness room, dining space, supportive services office, and a small medical office offering rotating health services. The remainder of the building will contain 61 residential units, consisting of 58 one-bedroom and three two-bedroom layouts.
Elevation of 1539 North Pulaski Road by UrbanWorks
The $36 million project is being funded in part by $13.24 million in TIF funding approved last month. Additionally, the development team has secured $16 million in Low-Income Housing Tax Credits (LIHTC), along with several other funding sources, to complete the financing stack. Construction is expected to begin soon and will take approximately 15 months to complete, with a projected completion date in 2027.
Be on the lookout early next year as we interview the CEO of HHDC.
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I really like this project. Not only restoring a cool historic building, but also bringing the building new life with space for people to live and enjoy.