Chicago Construction News staff writer
DL3 Realty held a ground-breaking for Thrive Englewood this week, a $40.2 million INVEST South/West project in Englewood that will bring a mixed-income, transit-oriented development to the 900 block of West 63rd Street.
“Projects like Thrive Englewood are a hallmark of my administration’s INVEST South/West initiative and its mission to create economic opportunities in our neighborhoods,” Mayor Lightfoot said.at the event. “With this latest groundbreaking, we are delivering mixed-use, affordable housing and promoting a pedestrian-friendly corridor in Englewood.
City support for the minority-led project includes $13.5 million in multi-family loan funds, $5 million in tax increment financing (TIF), $1.5 million in low-income housing tax credits, and $240,000 in donation tax credits.
The project’s first phase will include 62 one- to three-bedroom apartments; 51 affordable units and two units will be for live-work tenants.
The six-story project includes an on-site fitness room, a community room, bike storage, and laundry facilities on each floor. Nearly 2,500 square feet of ground-floor retail space is anticipated to include casual dining options.
Perkins+Will designed the building and construction will use fiber cement panels, masonry brick, metal siding and canopy, floor-to-ceiling windows, and aluminum and glass storefronts.
“Thrive Englewood evolved out of a City request for proposals for the nearby Green Street firehouse, which is being transformed into a culinary food hub and business incubator,” planning and development commissioner Marice Cox said. “Together, these projects are revitalizing more than four acres of vacant city land where the people of Englewood can live, work, visit and call home.”
Phase two will add 44 mixed-income apartments and retail space.
Thrive Englewood will close out the final phase of Englewood Square Phase I, which began with the development of the Englewood Square shopping plaza in 2016.