The team behind a mixed-use residential building on the Bucktown-Lincoln Park border have secured a $69 million loan from Wells Fargo for their project near Sterling Bay’s planned Lincoln Yards megadevelopment.
Local developer Belgravia Group and Miami-based construction company Lennar Corporation’s $200 million Triangle Square apartment and condominium complex will be made up of three buildings on a 4.1-acre triangular property bounded by Elston Avenue, Webster Avenue and Metra’s UP-North line tracks.
At seven stories, the largest building will include 300 apartments with ground-floor retail. Another seven-story condo building with 66 units, and a two-story building with small offices above retail will be across from the apartment building.
At the time the project was approved, Belgravia planned to include nine affordable units on site and pay about $3.5 million into the city’s Affordable Housing Opportunity Fund.
Belgravia and Lennar didn’t immediately respond to requests for comment.