The real estate team behind Chicago’s Englewood Square has proposed a mixed-income housing project near the development.
DL3 Realty has proposed building a six- and a five-story residential building on the vacant lot behind the square at 914 West 63rd Street, Block Club Chicago reported.
The project, which was dubbed Thrive Englewood, calls for 103 apartments, five live/work units and retail space. Plans also include parking for more than 50 vehicles and a common lobby connecting the two buildings.
If the city approves it, Thrive Englewood will be built in two phases.
The first phase of the project would include the six-story building, which will have 59 apartments divided into 25 one-bedrooms, 29 two-bedrooms and five three-bedrooms. Six of the apartments would be reserved for affordable housing.
The second phase would be for the five-story building, which would have 44 apartments divided into 20 one-bedrooms and 24 two-bedrooms. Four of those units would be marketed as affordable housing.
The ground level of each building would also include commercial space, work/live units and amenities such as a community room and fitness center.
While the cost of the project hasn’t been finalized yet, the developers estimated it would cost $28.4 million when they presented the plan for the Invest South/West initiative.
In addition to developers presenting plans to the Chicago Plan Commission and Committee on Zoning before they can head to City Council, DL3 also plans to host a community meeting with Alderman Stephanie Coleman, whose ward will include the development.
Englewood Square took a hit last month when Whole Foods announced it would close its store at 832 West 63rd Street after six years in the community. Mayor Lori Lightfoot has vowed to bring another store to the neighborhood.
“We’re going to work our tails off to get a new alternative — one that the community wants and can access and participate in,” Lightfoot said.
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