Part two of this week’s announcement of the six finalists of the LaSalle Street Reimagined initiative in The Loop. In this article we will cover the final three bids vying for part of the city’s $196 million in funding for the program pulled from the LaSalle Central TIF District, part one covering the first three can be found here.
Ogden Commons, a $200 million masterplan that will bring new homes, shops, and health services to North Lawndale, is moving forward with its second phase. The Habitat Company, along with Sinai Health System, Alecko Capital, and the City of Chicago, announced that they have secured financing for OC Living’s first phase, a 92-unit building with predominantly affordable apartments. The project is located in the city’s largest opportunity zone, which means it will benefit from tax incentives and attract more investment to the West Side.
Construction permits have now been issued for a three-story residential development at 3409 N Bosworth Avenue in Lake View. The project site is located between W Roscoe Street and W Cornelia Avenue, and bounded by the CTA Brown Line tracks to the north. The property is being developed by Marduk Management, using two LLCs named 3407 N Bosworth LLC and 3409 N Bosworth LLC, with plans for six total units for the project, each approximately 1,025 square feet.
Construction has begun on the tower section of 225 N Elizabeth Avenue, a 28-story mixed-use development in Fulton Market District. The project is developed by Sterling Bay and Ascentris, and will replace a former parking lot at the corner of Fulton Street and Elizabeth Street.
Further details and renderings have been revealed for the finalist of the Central Manufacturing District RFP. Located at 1769 W Pershing Road in McKinley Park just west of the intersection with S Ashland Avenue, we last covered the project in January as the city narrowed it down to three finalists with mixed-use proposals featuring everything from housing to movie studios on the multi-site lot. The Chicago Department of Planning and Development is leading the selection process with the bids being presented earlier this week at a community meeting.