The $102 Million, 20-story Building, planned by the Community Builders at Van Buren Street and Plymouth Court, was announced the winner of Chicago's C40 Reinventing Cities competition. The City of Chicago named the winning project for its C40 Reinventing Cities design competition to carbon neutrally redevelop the city-owned Loop parking garage site.
An article in Crain's Chicago Business states that Mayor Lori Lightfoot has announced Assemble Chicago - a group that includes Community Builders, Studio Gang Architects, DesignBridge and JAQ - won this year's C40 Reinventing Cities. Community Builders will purchase the property across from the Harold Washington Library as soon as they get approval from the City Council. They bought it for $1 and it is appraised for $7.95 million.
LOOKING FOR MORE MIXED-USE PROJECTS IN THE CHICAGO AREA?
The $102 million project will feature over 200 units and will be priced for tenants earning 30 to 80 percent of the area median income. Thirty percent is equal to $28,000 for a family of four. Of that, 68 units will be set aside for those in that income bracket.
The building will also feature the following:
- A food hall highlighting minority-owned restaurants
- Non-profit offices
- A produce grocer
- Wellness clinic
The project will include $2 million worth of improvements to Pritzker Park which will consist of:
- Spray fountain
- Community stage
- Rain garden
- Landscaping
- Restrooms
Smart Cities World reports that the Assemble Chicago project was selected over three other net-zero, mixed-use proposals due to its superior design, commitment to affordability, family-sized units, development team experience, proposed purchase price and community feedback.
The project is expected to create approximately 530 temporary and permanent jobs. The site currently is occupied by a vacant parking garage and vacant land.
Approval is still pending from the City Council and then zoning and other considerations may also be subject to council approval. Groundbreaking could begin later this year but a more definite date is still not available.