+ What is included in this project?

• A total of 65 new affordable homes.
  
• Ground floor commercial space and expanded outdoor public space, consistent with the vision laid out in the 2019 Lincoln Square Master Plan.
  
• A second floor parking deck that will include 36 parking spaces—18 spaces for the public and 18 spaces for building residents.
  
• A parking entrance on Western Ave, based on feedback from local business owners and residents that a potential entrance in the alley between Lincoln and Western would pose multiple logistical and safety issues.
  
• A green roof and other sustainability features.
  
• A rooftop deck for residents.

+ When was this projected proposed?

A non-profit developer reached out to our staff with interest in late 2019. Shortly thereafter, we added the proposal to our website for the public to comment on.

+ What was the community process

During four public meetings, we discussed the community's preferences for this city-owned parking lot. Nearly 1,000 neighbors registered to attend these meetings, 415 people completed an online survey, and 112 people submitted written comments. During these meetings, neighbors identified two main priorities: 1) expanding affordability, and 2) fostering a strong small business environment.

The development was also informed by feedback collected during the Lincoln Square Master Plan which was completed in 2019.

+ Who supports this project?

We are proud that this project has the support of the Lincoln Square Ravenswood Chamber of Commerce and all three local neighborhood associations: Heart of Lincoln Square Neighborhood Association, Greater Rockwell Organization, and Lincoln Square North Neighbors. Also in support is the Build Housing Now coalition—a group of neighbors committed to addressing the lack of affordable housing in our neighborhood.

+ How is the project funded, and why this site?

This project will receive affordable housing tax credits (LIHTC). This is a federal funding source that in this case is allocated by Chicago’s Department of Housing. These tax credits are a common funding source for 100% affordable developments like this one. In addition to tax credits, the non-profit developer will take on private debt, and the project will be considered for additional TIF funding as is typical for affordable projects like these.

This is an amazing opportunity at a site in the heart of Lincoln Square right next to the Western Ave Brown Line station, as well as many small businesses. One constraint to building affordable housing on the North Side and in communities like Lincoln Square is the high cost of land; mission-driven, affordable developers struggle to compete with market-rate developers to acquire buildable land. That’s why publicly owned parcels are an ideal site, as the City can sell the land at a subsidized rate.

+ What is the current parking utilization

LAZ provided our office with hourly parking utilization data for 2018 and 2019. It shows that the parking lot is well-utilized, especially at peak business hours, but that there is some flexibility to remove parking spaces without significant impact.

The peak hours are on weekends. On average, the parking lot on Saturdays is between 70% and 80% utilization between 11 AM and 2 PM. During weekdays, the peak hours are Thursdays and Fridays around dinner time, when average utilization is approximately 50%-60%. During non-peak hours, utilization is typically 10%-30%.

+ How did you reach the current compromise?

In late 2021, the Department of Housing announced its intention to award tax credits needed to build affordable housing here, and expressed that it believed this development could move forward quickly given the amount of robust community feedback already collected. In early 2022, both the Department of Housing (DOH) and the Department of Planning and Development (DPD) communicated that additional changes needed to be made, which risked the development moving forward.

In response to these requirements, our office hosted two listening sessions with the Commissioners of DOH and DPD and approximately 30 residents and small business owners. The Alderman also met with the Mayor to discuss community feedback and location-specific concerns. As a result of these discussions, the Alderman and the Departments were able to reach a compromise that allowed the project to move forward financially, as well meet most of the ideal design requirements communicated by neighbors and small businesses.

+ Watch Community Meetings

You can watch a number of record community meetings about this development below.

• 2021 Community Visioning
• 2021 Survery Results
• April 2022 Update

+ How do I apply for a unit in this building?

The building is privately owned and operated by The Community Builders (TCB). They will be opening applications in the fall of 2024, once construction has progressed sufficiently (the exact date is not yet certain).

Until then, our office is keeping a running list of prospective applicants. We will share this list with TCB once they are ready to receive applications; they will then contact those on the list to share the application process with them. Please note that ours does not constitute an official waitlist, but rather a way for us to ensure that all prospective applicants are informed when applications open.

If you are interested in applying for this building, please email info@aldermanmartin.com or call our office at (773) 868-4747. Please be ready to share your:

• Full name
• Current home address
• Phone Number
• Email (if applicable)
• Date of Birth