It has now been two years since we first thought the Shops & Lofts at 47 might break ground. The press release that hit Curbed's inbox today has a date definitively set: tomorrow. The stakeholders and power brokers will all be there for what we imagine will be an intellectually numbing ceremony. That's not to say the news isn't welcome. The $46M project, promoted by Quad Communities Development Corporation will realize a five-story, 96-unit mixed-income building at the corner of 47th and Cottage Grove. CHA vouchers will be available for a fraction of the units. The project also makes allowances for 55,000 square feet of retail, anchored by a Walmart Neighborhood Market. The city's Cottage Grove Corridor Master Plan takes a nodal approach to development in the Grand Boulevard neighborhood. This is the first of three dense mixed-use nodes plotted along Cottage Grove to reach launch.
UPDATE— Curbed has learned that 28 units will receive both CHA and Low Income Housing Tax Credit (LIHTC) subsidies; 44 will get LIHTC subsidies alone; and the remaining 24 will be market-rate.
·Groundbreaking for Shops and Lofts at 47 Pushed Back [Curbed Chicago]
·Clearer Picture Emerges for Cottage Grove Mixed-Use Project [Curbed Chicago]