Structured Development just broke ground on the first two of three buildings that will bring affordable condos to the Near North Side. Work was just started on the Shops at Big Deahl which is a retail and residential development consisting of a three-building, 487 unit community centered around a public park at 1450 N. Dayton Street, near the North and Clybourn corridor.
According to Block Club Chicago, the development is just northwest of the former Cabrini-Green housing project. This $250 million project was approved by the City Council in January.
The Seng is the first building and consists of:
- A four-story, 34 unit affordable condo building
- Feature two, three and four bedroom units
- residential amenities
- 36 parking spaces
- Will be income-restricted and will remain affordable in perpetuity
- Expected be finished by December 2022
The Seng's buyers will be income-restricted and selected by the Chicago Community Land Trust, a nonprofit group staffed by the Department of Housing that aims to preserve long-term affordability of homes through city programs like the Affordable Requirements Ordinance.
Structured Development is also investing $14 million toward developing an additional 40 affordable, for-sale townhomes off site at its Harrison Row Townhomes community at 2849-59 W. Congress Parkway in East Garfield Park.
The second building, Common Lincoln Park, will consist of:
- 10 story, 400 bed co-living community
- Expected to finish in March 2023
- Feature one to four bedroom apartments
- Include a communal kitchen and living area
- In-unit laundry
- Units will come furnished
- Majority of bedrooms will have en-suite bathrooms
- Fitness center
- Co-working space
- Community lounge
- Screening room
- Bike room with a repair station
- Outdoor terraces with grilling stations
These units will be managed and leased by Common, a New York-based co-living provider that has an app-based platform used in all aspects of its operations, from digital lease signing to organizing on and off-site social events according the the developers.
The third building, known as Building A, will break ground in March 2022. When finished it will be a 27-story, 327 unit market-rate rental tower at the western end of the property.
"Big Deahl brings true economic diversity to the neighborhood, offering a dynamic mix of affordable for-sale housing and market-rate rentals. As the city looks to address the shortage of housing available to low and middle income households, we are proud to be introducing affordable, family-sized condos to a neighborhood with virtually no comparable options available."
Founding principal of Structured Development | Mike Drew
The three buildings will be situated around Seng Park. This will be privately developed but publicly accessible and offer pedestrians walkways between the buildings. The park is named after the Seng Company. They are an old furniture manufacturing company whose facility used to occupy the site in the 19th century.
"Structured has invested heavily in this neighborhood over the past 25 years and our development of the park continues that tradition. The intentional inclusion of open space alongside mixed-income housing helps ensure a more equitable future for Lincoln Park and our city as a whole."
Founding principal of Structured Development | Mike Drew
Urbanize Chicago states that the multi-phase plan has already produced the new park at 1460 N. Dayton Street which holds a climbing gym. The park will be fully landscaped and provide community gardens, a dog park and playground. Seng Park will also provide a link to Wild Mile, a recently revitalized stretch of the North Branch Canal which will further the live-work-play lifestyle sought be today's urban dwellers.
DataBid is currently reporting on this project - Big Deahl Residential Development Clybourn Corridor Lincoln Park - Chicago (0007101220)
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