Lincoln Park’s old Covent Hotel could be developed into mixed-income apartments

The Covent Hotel, a historic single-room occupancy (SRO) building in Lincoln Park, could be restored and redeveloped into a mixed-income project offering both affordable and market-rate units. The nonprofit NHP Foundation and partner Drummond Development presented their plan for the site at 2653 N. Clark Street at a community meeting earlier this month, hosted by 43rd Ward Alderman Michele Smith.

The Covent was originally built as a combination theater and hotel in 1906. Although the performance venue was demolished in the 1960s, the remaining three-story building stayed in operation as an SRO. Under the current redevelopment plan, the Covent’s 60 single-room units will become 30 affordable-rate studio apartments with private bathrooms and kitchens. The existing building will also include 4,900 square feet of renovated ground-level retail as well as new amenity spaces for residents.

Additionally, the proposal calls for the construction of a new seven-story residential building replacing a rear parking lot along West Drummond Place. Designed by Chicago architecture firm Brininstool+Lynch, the contemporary structure would feature 84 market-rate rental units and garage parking for 52 vehicles. The development also includes a small surface lot reserved for retail use and additional streetscape improvements.

Courtesy 43rd Ward

The NHP Foundation purchased the Covent property in 2016 for $7 million. The development team intends to finance the renovation through HUD and FHA sources and low-income and historic tax credits. The project will also comply with Chicago’s 2014 Single-Room Occupancy Preservation Ordinance, which incentivizes property owners to keep units affordable rate.

Renovating and repurposing Chicago’s historic SRO’s has become an increasingly popular practice in recent years. Projects include the overhaul of the historic Carling Hotel, Mark Twain Hotel, and Lawson House YMCA into larger, affordable apartments. River North’s former Olympia Building SRO turned into a limited-service hotel known as Found Chicago.

Before Lincoln Park’s Covent redevelopment can move forward, the proposal will need to secure a zoning change from the city. The community presentation can be found on Alderman Smith’s website.