After six years of approvals and planning, construction is set to begin on the mixed-use Covent Hotel redevelopment this September. Planned by NHP Foundation, who had purchased the property in 2016, in partnership with Drummond Development, the project at 2653 N Clark Street in Lincoln Park will reuse the existing Covent Hotel building while adding a new seven-story edifice to the parking lot behind the existing building. Overseen by Weese Langley Weese Architects, the historic Covent Hotel is being renovated from 64 SRO units into 30 affordable studio apartments. The street-facing ground level will also provide 4,700 square feet of retail space along Clark Street.
Several key approvals have passed for 5200 W Chicago Avenue in Austin, where Heartland Housing Alliance and Oak Park Regional Housing Center have planned a major mixed-use redevelopment around the former Laramie State Bank. The Community Development Commission has approved the sale of 5206 W Chicago Avenue, while the Chicago Plan Commission has approved both the rezoning for the project and its Planned Development application. The scope of the plans have received both city and community support, having won the Austin Invest South/West RPF competition to imagine new projects for Chicago’s west and south sides.
Renovation work continues to take shape at the 24-story Victor F. Lawson House at 30 W Chicago Avenue in Near North Side. The Art Deco high rise was originally designed by Perkins, Chatten & Hammond and completed in 1931. Developer Holsten Real Estate will be deconverting the former YMCA from 538 single room occupancy units into 408 affordable apartments. In exchange for keeping all on-site units affordable until at least 2073, the project received both low income housing tax credits and $12.4 million in historic preservation tax credits. Holsten Real Estate has also received a $17.6 million loan from the city, a $79.4 million loan from Chase Bank, and a $17.2 million loan from the Illinois Housing Development Authority.
This week, EQ Office announced the completion of Willis Tower’s $500 million makeover spanning from its base to pinnacle. Bookending Chicago’s skyline in the southwest corner of The Loop, the 108-story Chicago icon has received extensive renovations to both its public and private spaces. A three-story podium known as Catalog has also been constructed, wrapping around all four sides of the skyscraper’s base.
Facade scaffolding can be seen along the frontage 430 N Michigan Avenue, the downtown headquarters for The National Association of Realtors (NAR). Originally built in 1962 as a 10-story building, this Magnificent Mile has high…