There isn't a lot of new construction in the pipeline for 2011, but here's one that belongs on the short list. The Shops and Lofts at 47, a development that's been in the planning stage for at least three years, is scheduled to break ground in the spring, according to Bernita Johnson-Gabriel, executive director of the Quad Communities Development Corp. Phase 1 will include 72 rental units that will include market-rate, affordable and CHA public housing units.
Aldi has been named as the anchor tenant for the retail space, and the store will be a "new urban model," says Johnson-Gabriel, much like the one on Clybourn Avenue in Lincoln Park. The large mixed-use development will ultimately bring 140 rental apartments and almost 50,000 square feet of retail space to the intersection of 47th Street and Cottage Grove Avenue, but Johnson-Gabriel says the developer won't be shopping for other retail tenants until construction begins.
· 'Shops & Lofts' moves forward -- with rentals [LISC]