Holsten moves forward with townhome complex on former Cabrini Green site


Sales have begun for a planned 88-unit development at the former public housing complex


TRD CHICAGO /
Nov.November 21, 2018 01:00 PM

From left Parkside Old Town, and Peter Holsten

Holsten Real Estate Development is moving forward with the next phase of redevelopment of the former Cabrini Green public housing complex.

The Chicago-based firm launched sales for its 88-unit townhome complex at Larrabee and Elm streets on the Near North Side, according to Curbed.

The two- and three-story townhomes will be built in a four-block area that has been mostly vacant land and parking lots since the city demolished the Cabrini Green towers between 1995 and 2011.

Called Parkside Old Town, the townhomes are priced from $450,000 to $790,000 and include two- and three-bedroom units. Work on the development could begin in March with delivery next fall.

Sales are being handled by @properties, which set up a sales center at 576 West Elm Street.

The townhomes are one part of a larger development by Holsten at the former Cabrini Green Plans also include a 69-unit mid-rise building and two three-story walk-ups with 33 units.

Parkside Old Town represents the latest round of redevelopment of the notorious public housing complex.

The massive New City mixed-use project was built in 2015 by Structured Development on the northern end of the Cabrini Green neighborhood. New City is now owned by Bucksbaum Retail Management.

Nearby Old Town is also seeing a surge in residential building, including a 32-unit luxury tower on North Clark Street proposed by CIM Group and Golub & Company. CA Ventures and White Oak Realty Partners, meanwhile, were recently cleared to start work on a 261-unit apartment building at 649 West North Avenue. [Curbed]Joe Ward

 

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