Thrive Exchange celebrates completion

DPD Commissioner Boatright recently joined the Chicago Department of Housing and DL3 Realty for a "Welcome Home" event celebrating the completion of Thrive Exchange, a six-story, mixed-use building at 7905 S. Exchange Ave. Planned by DL3 Realty, the project site is located at the southeast corner of S. Exchange Ave and E. 79th St.

Designed by KOO, the $35 million project features a six-story mixed-use building topping out at 78 feet with a new landscaped plaza. A retail plaza will face the Metra tracks and the intersection, with a tenant amenity deck on the second floor overlooking it. The facade is drawn from the context of the Ringer Building, with choices selected to complement its materiality. A warm brick mix is paired with copper metal panels at the bay windows and lower recessed spaces. The arched openings draw from the arches at the Ringer Building. 

The development delivers 43 affordable workforce housing units renting at 60% AMI, split into 4 studios, 20 one-beds, and 19 two-beds. The east side of the ground floor of the building will have retail space and offices for Neighborhood Housing Services. Residents will enter the building from the west side which will also hold admin space and a bike storage room. The project will have zero parking spaces. 

City support for the project includes $15.1 million in Low Income Housing Tax Credit equity, $13.1 million in Tax Increment Financing, a $6.3 million Chicago Recovery Plan loan and the sale of a City-owned lot.

W. E. O'Neil and GMA Construction served as the general contractors for the project.