CHICAGO-Efforts to revitalize a West side neighborhood near Douglas Park are underway with the construction of a $32-million, mixed-income development.
Brinshore Development LLC has partnered with Michaels Development Company and Sinai Community Institute to develop Park Douglas, a 19-building multifamily project near California and Roosevelt Streets. The venture has hired McShane Construction Company to construct the project, which will offer a mix of one- to four-bedroom subsidized, affordable and market rate housing.
The units are located on various sites within the neighborhood, according to Mark T. Tritschler, executive vice president of McShane Construction. He tells GlobeSt.com that most of the sites are only large enough to accommodate three and six-flat buildings. However, there are two larger plots that will feature an 18-unit building and 48-unit building.
The 48-unit building is situated on land that was previously occupied by the Chicago Housing Authority’s Lawndale Gardens complex. Park Douglas will replace a portion of Lawndale Gardens.
“This development will really bring new life to the area,” Tritschler says. “The neighborhood is ripe for revitalization.”
Construction financing for Park Douglas comes from a variety of sources including $10 million in highly competitive stimulus funds provided by the American Recovery and Reinvestment Act of 2009.
Designed by Koo and Associates LTD and Pappageorge Haymes Partners, Park Douglas is scheduled for completion in December 2011. Park Douglas is registered with the Chicago Green Homes program, a city-operated permitting system fostering environmental construction and design practices. The buildings, which will range in style from traditional to contemporary design, will be Energy-Star certified and will utilize local and salvageable materials.
In addition to the residential buildings, Park Douglas will also feature a 3,807-square-foot, single-story LEED™-registered management office.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
