Alderman Matt Martin of the 47th Ward recently announced the compromise for the affordable mixed-use development at 4715 N. Western. Located at the intersection of W. Leland Ave and N. Western Ave, the site is currently a city-owned public parking lot on the northeastern corner of the intersection. The Community Builders is the developer behind the concept.
Originally proposed back in 2019, the project was awarded LIHTC financing in late 2021. The development scheme at that time called for a five-story building that would hold 5,000 square feet of retail space, 51 affordable apartments, 41 public parking spaces, and 9 private parking spaces for residents. During the city’s further review after conditionally awarding the LIHTC financing, the development was thrown into question after the city demanded less parking in the building and that the parking access be moved from N. Western Ave to the alley.
With DesignBridge on tap as the architect, the new compromise will produce a six-story building that will deliver a total of 65 new affordable homes (up from 51), ground floor commercial space, expanded outdoor public space, and a second-floor parking deck that will include 36 parking spaces. Down from an original 50 spaces, the 36 will be split into 18 for the public and 18 for private residents. The building will be topped by a green roof and rooftop deck for residents
The parking entrance will be retained along N. Western Ave based on feedback from local business owners and residents that a potential entrance in the alley would pose multiple logistical and safety issues.
This final version announced by Alderman Matt Martin represents a compromise between multiple parties as it has the support of the Lincoln Square Ravenswood Chamber of Commerce, Heart of Lincoln Square Neighborhood Association, Greater Rockwell Organization, Lincoln Square North Neighbors, and Build Housing Now coalition. Also in support are the Department of Housing, the Department of Planning and Development, and the Mayor’s Office.
With a compromise in place, the development will proceed to the approval process which will include a visit to the Community Development Commission to acquire the city land and receive any potential TIF financing as well as a zoning process that will see the project before the Chicago Plan Commission, Committee on Zoning, and City Council. Construction could begin as soon as Spring 2023.