The 56-unit, five-story project is a joint partnership between DL3 Realty and Michaels Development Company. Forty-one of the apartments will be covered under the Affordable Requirements Ordinance, renting between 30% and 60% of Area Median Income ($470 to $940 per month). It is the first development in the neighborhood covered under the Woodlawn Housing Preservation Ordinance passed last year.
The project was approved by 20th Ward residents earlier this summer, and passed through the Chicago Plan Commission at its Aug. 26 meeting. Department of Planning and Development Commissioner Maurice Cox described it at the time as part of the city's “anti-gentrification strategy" for the neighborhood.
The development includes nearly 3,500 square feet of retail, a fitness center, community rooms and a business center run by local community organization Sunshine Enterprises.
DL3, led by managing partner Leon Walker, has been involved in a number of Woodlawn ventures, among them the award-winning Jewel-Osco at 61st Street and Cottage Grove Avenue, as well as the new Friend Health headquarters at Cottage Grove and 63rd Street.