NEAR NORTH SIDE — A massive residential development that will include affordable condos in the Halsted Triangle received City Council approval Wednesday.
The $250 million Shops at Big Deahl project from Structured Development will include three residential buildings, a fitness center and a public park at 1450 N. Dayton St. near the North and Clybourn corridor.
The three buildings will be a 27-story tower with 327 units; a five-story building with 36 units and a 10-story group living facility with 126 units.
The project will bring more than 450 apartments to an area of town that has exploded with development in recent years.
Thirty-four units within the development’s five-story building will be affordable condos. Developer Mike Drew said they will be three to four bedrooms and priced at a “maximum of $330,000-$360,000,” roughly half of the market rate for similar condos in the area.
The developer also plans to build 33 affordable townhomes at an off-site development at Harrison Street and Francisco Avenue to meet the city’s affordable housing requirements. Those will be sold for $229,000.
The project was approved by the city’s plan commission in December and approved for a zoning change Tuesday before being endorsed by the full City Council.
“It’s a win-win for the city, it’s a win-win for the community, it’s a win for affordable housing, so we support this 100 percent,” Ald. Walter Burnett Jr. (27th) said Tuesday.
The three new residential buildings will wrap around the public park area, which is planned to include an entry plaza, gardens, sculptures and movable tables with chairs, according to the developers’ presentation. The fitness studio will sit adjacent to the east.
For the West Side project, the developer plans to employ people from the area to help in the construction project. Some in the program will be offered the chance to buy the units they helped build, Burnett said.
“African Americans from the West Side are going to build and own some of those,” Burnett said last month. “It wasn’t always like this. [The developer] is essentially mentoring these neighborhood men. I’m excited about this.”
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