Chicago Construction News staff writer
DL3 Realty, South Shore residents and city officials this week celebrated the topping off of Thrive Exchange, a six-story, mixed-use building under construction at 7905 S. Exchange Ave. The six-story, mixed-use building will bring 43 affordable apartments and new commercial space to a site at 7905 S. Exchange Ave., marking the first project of its kind in the area in more than 50 years.
Located next to the Cheltenham Metra station, the development is part of a broader effort to increase housing options near transit and stimulate local economic activity. It was selected through a competitive process led by the Department of Planning and Development and shaped by public input gathered at multiple community meetings.
The city is backing the project with a mix of public financing tools, including Low-Income Housing Tax Credit equity, Tax Increment Financing, a Chicago Recovery Plan loan, and the sale of a city-owned lot.
Construction is being led by WG Affordable Housing Partners with design by KOO Architecture. Completion is expected by April 2026. Future phases include additional new construction and the rehabilitation of nearby buildings, including the historic Ringer building.
