Chicago City Wire

The Department of Planning and Development (DPD) has announced the advancement of two mixed-use proposals in Chicago, focusing on neighborhood grocers and affordable housing. These projects are moving forward in the city's review and approval process.

"Both of these proposed projects directly respond to the City’s mixed-use goals to make each location a destination and anchor for additional neighborhood investments," said DPD Commissioner Ciere Boatright. "Following extensive City underwriting and analysis, each project is now taking an incremental step toward construction."

The first proposal is located at 3835 W. Madison St., West Garfield Park. The development team includes Citizens Building a Better Community, East Lake Management and Development Corp., TruDelta, Project Forward, Valerio Dewalt Train, and Latent Design. This $45.3 million "Westgate" project plans to construct a five-story building with 55 affordable apartments and 20,000 square feet of commercial space. Public assistance for this project may include up to $20 million in Tax Increment Financing (TIF), $690,000 from the Neighborhood Opportunity Fund, Low-Income Housing Tax Credits, and New Markets Tax Credits.

The second proposal involves converting part of the former Field Building at 135 S. LaSalle St., Loop into residential units by Riverside Investment & Development, AmTrust RE, DL3 Realty, and SCB. This $241 million project will transform 11 floors into 386 apartments with 116 units reserved for households earning an average of 60% AMI. The plan also includes updating ground-level retail space.

Public assistance for this conversion could involve up to $98 million in TIF funding proposed to the Community Development Commission before City Council consideration.

For more information about these initiatives or other related projects, interested parties can visit Chicago.gov/MadisonHamlin or Chicago.gov/LaSalleStreet.