Mixed-Income Chicago Development Breaks Ground
- Feb 22, 2019
Brinshore Development and Michaels Development Co. have started construction on the first phase of 4400 Grove, a 164-unit mixed-income community in Chicago’s Bronzeville neighborhood. Pappageorge Haymes Partners designed the project and general contracting duties will be shared by McShane Construction and UJAMMA Construction.
The Chicago Housing Authority, U.S. Bancorp and other lenders are part of the joint venture of public and private entities involved in this project. City of Chicago support includes $7.2 million in Tax Increment Financing, $1.9 million in Low Income Housing Tax Credits that will generate $17.8 million in equity and $783,000 in donation tax credit equity. A similar project, which received financing from the City of Chicago and the Chicago Housing Authority, broke ground last October.
Located at 4424 S. Cottage Grove Ave., the property will occupy a nearly 4.2-acre parcel on the site of the former Washington Park Homes, a public housing property demolished in 2002. The site is located 4.5 miles south of downtown Chicago and about 1 mile east of Dan Ryan Expressway (interstates 90/94). The development is set to include affordable and market-rate apartments, along with around 15,000 square feet of ground-floor retail, a public plaza and park space.
“Our intent was to create a streetscape that looked like individual facades or buildings that evolved over time and not one large development,” said Greg Klosowski, associate at Pappageorge Haymes, in prepared remarks.
According to the City of Chicago, the first construction phase will feature 84 units in two four-story buildings. The affordable apartment mix includes 21 units reserved for CHA residents and 34 units for households earning up to 60 percent of the area median income. The remaining 29 units represent market-rate apartments.
Half of the units in the first phase will be two-bedroom apartments, while the other half will consist of studios, one- and three-bedroom accommodations. Common-area amenities are set to include a community room with kitchen, a fitness and yoga room, shared work center with computers and indoor bicycle parking. The property is expected to be ready for occupancy in the first quarter of 2020.
Image courtesy of Michaels Development Co.