Mayor Lori Lightfoot joined city officials and DL3 Realty to break ground yesterday on Thrive Englewood, a mixed-use affordable development at 914 W. 63rd. Currently vacant, the irregularly shaped site is located at the corner of W. 63rd St and W. 63rd Pkwy, just west of the Englewood Square Mall.
"I am thrilled to join our partners at DL3 Realty and celebrate this groundbreaking," Mayor Lightfoot said. "Projects like Thrive Englewood are a hallmark of my administration's INVEST South/West initiative and its mission to create economic opportunities in our neighborhoods. With this latest groundbreaking, we are delivering mixed-use, affordable housing and promoting a pedestrian-friendly corridor in Englewood that will serve residents for years to come.”
Designed by Perkins & Will, the project’s first phase consists of a six-story building along W. 63rd St. Rising 74 feet, the structure will deliver 61 residential units with 2,400 square feet of ground floor retail. Two live/work units will round out the W. 63rd St frontage, with the residential lobby located along W. 63rd Pkwy. The unit mix for this phase will include 11 units at 50% AMI, 40 at 60% AMI, and 10 market-rate apartments.
The building’s facade will be made up of fiber cement panels, masonry brick, metal siding and canopy, floor-to-ceiling windows, and aluminum and glass storefronts.
Set to connect to Phase 1 via a future shared lobby, Phase 2 will front W. 63rd Pkwy. Topping out at 65 feet, the five-story building will hold 44 mixed-income units as well as three live/work units, a fitness center, community room, and bike room all on the ground floor. Both phases will have access to a surface parking lot for 58 cars, with a landscaped space including a play structure and plaza located behind the Phase 2 building.
The $40.2 million development will receive $13.5 million in Multi-Family loan funds, $5 million in Tax Increment Financing (TIF), $1.5 million in Low-Income Housing Tax Credits, and $240,000 in donation tax credits from the city, with private funding completing the financing stack.
With building permits issued and ground broken, general contractor Bowa Construction can begin construction. Phase 1 is scheduled for completion in 2024, with timing for Phase 2 still to be determined.