Construction has completed for the Rosie, a mixed-use development at 1461 S Blue Island Avenue in Little Italy. The project has been planned by FLATS LLC, a subsidiary of Cedar Street Companies, in partnership with Origin Investments. Previously a vacant lot, the site lies within a federal opportunity zone that grants developers tax incentives for developing in economically distressed areas.
1461 South Blue Island Avenue
Exterior work is nearly complete for The Rosie, a seven-story mixed-use building located at 1461 S Blue Island Avenue, near the southeast corner of Chicago’s Little Italy. Planned by CEDARst and Origin Investments, the project will host 202 apartments as well as 7,600 square feet of retail space. The project lies within in a federal opportunity zone, whereby the developers agree to build in an economically distressed vicinity in exchange for tax incentives. Seven of the on-site units will also be affordable, a figure that was approved prior to an updated housing requirement, whereby at least 20 percent of units must be affordable for new projects in the area.
Exterior work is well underway for the seven-story mixed-use building in Little Italy known as Pilsen Gateway, not to be confused with another building with the same name in East Pilsen. The 202-rental-unit project is a partnership between developers Cedar Street and Origin Investments.