Austin United Alliance has received multiple approvals for development at 5200 W. Chicago Avenue. With Valerio Dewalt Train Associates in charge of the residential portion of the development, a new six-story residential building is planned for the vacant portion of the block, directly west of Laramie State Bank.
Chicago Yimby reports that several key approvals have passed for this project in Austin, where Heartland Housing Alliance and Oak Park Regional Housing Center have planned a major mixed-use redevelopment around the landmarked Laramie State Bank building.
The Community Development Commission has approved the sale of 5206 W. Chicago Avenue, while the Chicago Plan Commission has approved both the rezoning for the project and its Planned Development application. The plans have received both city and community support and have won the Austin Invest South/West RPF competition to imagine new projects for Chicago's west and south sides.
The new construction at the west end of the site will include:
- A six-story residential building
- Total of 78 apartments
- 51 affordable units and 27 market-rate units
- 37 one-bedrooms/ 36 two-bedrooms/ five three-bedrooms
- Conference room
- Community room
- Bike room for 43 bikes
- 28 parking spaces within an integrated garage
- Building will wrap around a courtyard area open to the public during the day
The facade will consist of gray masonry, white metal paneling and floor-to-ceiling windows. Frame-like protrusions of the metal panels will add to the visual design and to the grand entryways of the existing bank building.
LOOKING FOR MORE MIXED-USE PROJECTS IN THE CHICAGO AREA?
The Laramie State Bank, which is currently in a state of architectural ruin, will be fully refurbished and will include the following:
- Will become a new Blues Museum
- A cafe
- An office/co-working space
- New bank branch that is yet to be determined
The bank refurbishment will be overseen by Latent Design and Bauer Latoza Studio. The interior will have its coffered ceiling restored and the terracotta exterior will be rehabilitated and its windows replaced.
The project site is located at the intersection of Chicago and Laramie, which contains bus stops for Routes 57 and 66. Service for the CTA Green Line is an 11 minute walk south to Laramie station.
Urbanize Chicago states that the $45 million project will be built in two phases, splitting up the residential development from the bank restoration. Work is expected to begin on the residential building in November 2022, with restoration of the Laramie State Bank building planned for 2023 through 2025.
