While the upcoming Lawrence House redevelopment will soon deliver 344 new residential units to the rehabbed 13-story 1920’s landmark building at 1020 W Lawrence, developer FLATS Chicago has also announced an initiative to help bring a deserving local small business to one of the historic structure’s five ground floor retail spaces. A division of Cedar Street Co., FLATS is seeking entrepreneurs that can articulate how their businesses will enrich the 1000 block of Lawrence as well as the surrounding Uptown community.
Dubbed the #FLATSproject, the program will provide a selected local venture with $100,000 in start-up benefits. Perks includes one year free rent followed by a discounted rate (with five year contract), tenant improvements worth $25,000, legal assistance, and access to resources from the experienced FLATS business development, design, and marketing teams.
Since the #FLATSproject is considered a business accelerator rather than an outright incubator, applicants are generally expected to show a track record of ownership and quantified growth potential. Essentially the program is designed to help a small home or online business take the first leap towards becoming a brick-and-mortar operation.
The application deadline for the Lawrence House program is May 20, 2016 with additional information and requisite forms available on the project’s website. An overview of the #FLATSproject mission statement as well as a look at Public Barber — a past beneficiary of the initiative — is featured in the video below.
- Cedar Street Begins $15M Renovation of Uptown's Historic Lawrence House [Curbed Chicago]
- #FLATSproject [website]