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| Rendering of planned 10-acre, $200 million Ogden Commons mixed-use project, North Lawndale Neighborhood, Chicago, IL |
CHICAGO, IL (Nov. 16, 2018) – Chicago-based The
Habitat Company, a leading U.S. multifamily developer and property
manager, today announced it received approval from the city’s Planning
Commission to move forward with plans for a $200 million 10-acre mixed-use
project in Chicago’s North Lawndale neighborhood to be developed in partnership
with the Chicago Housing Authority (CHA), Sinai
Health System, Cinespace Chicago Film Studios and the city of Chicago.
Known as Ogden Commons, the development will offer mixed-income rental housing, retail and commercial space.
Known as Ogden Commons, the development will offer mixed-income rental housing, retail and commercial space.
Bordered by Ogden Avenue to the south, Fairfield Avenue to the west and
Rockwell Street to the east, Ogden Commons will be located on the former site
of the Chicago Housing Authority’s Lawndale development.
The mixed-use project will transform 10 acres of mostly vacant property near Douglas Park into 120,000 square feet of commercial and retail space plus hundreds of mixed-income housing units.
According to Matt Fiascone,
president of The Habitat Company, Ogden Commons will help serve as an economic
catalyst for the area, which is already home to Cinespace Chicago
Film Studios and Sinai Health System.
The mixed-use project will transform 10 acres of mostly vacant property near Douglas Park into 120,000 square feet of commercial and retail space plus hundreds of mixed-income housing units.
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| Matt Fiascone |
“The Habitat Company is proud to lead this public-private partnership to
bring not only much-needed quality housing to the North Lawndale neighborhood,
but also commercial and retail spaces that will help expand employment
opportunities and health services in this area,” said Fiascone.
“Ogden Commons is more than just a group of buildings – it’s about a commitment by each partner to help enhance an historic community that will serve the residents and businesses of North Lawndale and the greater Chicago area for years to come.”
“Ogden Commons is more than just a group of buildings – it’s about a commitment by each partner to help enhance an historic community that will serve the residents and businesses of North Lawndale and the greater Chicago area for years to come.”
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| Chicago Mayor Rahm Emanuel |
Construction on the commercial space is expected to begin during second quarter 2019 with the residential work to follow.
The entire development is projected for completion in 2021, at which time Cinespace and Sinai will occupy a significant portion of the commercial space, expanding on their current locations on Ogden Avenue across from the Ogden Commons site.
“Ogden Commons is taking vacant land and transforming it into a mixed-use
project that includes commercial, retail and housing units for residents,” said
Chicago Mayor Rahm Emanuel. “This builds on the City’s effort to redevelop
North Lawndale and further helps expand jobs and services for our residents.”
“We are pleased to see this mixed-use development move forward because we
know it will bring a new vibrancy to this historic community and serve as an
example of what partnerships can do to improve not just one neighborhood, but
the city as a whole,” said Eugene E. Jones, Jr., CEO, Chicago Housing
Authority.
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| Eugene E. Jones Jr. |
Its additional space at Ogden Commons will allow the growing film studio – home to a number of TV shows and movies, such as Empire, Chicago Fire and Divergent – to expand its services. Cinespace has created more than 15,000 film-related jobs and has generated over $5 billion in revenue for the city and the state.
"Cinespace is proud to partner with Sinai
Health System and The Habitat Company on such an exciting mixed-use community
development project,” said Alex Pissios, president
of Cinespace Chicago Film Studios.
“Ogden Commons will allow us to expand our job creation, while developing new mixed-income housing along with much needed retail stores that currently do not exist in this community.”
“Ogden Commons will allow us to expand our job creation, while developing new mixed-income housing along with much needed retail stores that currently do not exist in this community.”
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| Alex Pissios |
Its new space at Ogden Commons will enable Sinai to continue providing quality care in new modern healthcare spaces for outpatient services.
“The Ogden Commons project is a cornerstone opportunity to invest in our
community and its future,” said Karen Teitelbaum,
president and CEO, Sinai Health System. “It is an extension of the work we’ve
been doing for decades to reach beyond our own walls and find innovative and
impactful ways to fulfill our core mission to improve the lives of those we
serve.”
In addition to providing newly constructed mixed-income apartments for
employees of Cinespace and Sinai, Ogden Commons will
serve as a convenient housing option for employees of other key North Lawndale
businesses such as Lagunitas Brewing Company.
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| Karen Teitelbaum |
“Since 1971, Habitat has spearheaded projects nationwide in developing
nearly 8,000 new mixed-income housing units, so we’re proud to make Ogden
Commons our latest development in furthering our strong commitment to
revitalizing urban communities.” said Fiascone.
Fiascone noted the development team will work
closely with the city of Chicago to implement extensive streetscape
enhancements along Ogden Avenue, including decorative lighting, special pavers,
landscaping and benches to enhance the area’s pedestrian environment and
commercial viability.
Ogden Commons is expected to be funded by a number of public and private
funding sources typically available to support the development of mixed-use,
mixed-income housing developments like this one.
CONTACTS:
Robin Plous, rplous@taylorjohnson.com,
(312) 267-4512
