Habitat, Cabrera Capital Partners Receive $27M Capital Loan for Multifamily Redevelopment in Chicago

by Kristin Harlow

CHICAGO — Habitat and Cabrera Capital Partners have received the approval of a $27 million capital loan from the Chicago Housing Authority (CHA) for the first phase of multifamily redevelopment of LeClaire Courts on the city’s Southwest Side. The 32-acre site was previously home to the LeClaire Courts public housing community, which was completed in the 1950s and demolished in 2011. Under Habitat’s multi-phase plan, the site will be redeveloped into as many as 700 residential units, most of which will be affordable; nearly 440,000 square feet of commercial space; and publicly accessible open areas.

The first phase will consist of two six-story buildings located on the west side of Cicero Avenue between 44th and 45th streets. Collectively, they will offer 183 apartment units in a mix of studio, one-, two- and three-bedroom floor plans as well as a 14,000-square-foot early childhood center and 2,200 square feet of first-floor retail space. Ninety percent of the units will be designated as affordable through income and rent restrictions accompanying the development’s various sources of public financial support, including the CHA, the Chicago Department of Housing and the Illinois Housing Development Authority (IHDA). The remainder will be available as market-rate units.

Residents in Phase I will have access to onsite amenities such as a fitness center in each building, multiple lounges, community rooms, resident services meeting space, laundry facilities, package rooms and bicycle storage. A rooftop apiary on the north building will enhance urban biodiversity, foster environmental sustainability, provide fresh honey for residents and offer educational opportunities. There will also be two playgrounds, a landscaped gathering area and walking paths that will eventually connect to an onsite grocer, healthcare facilities and other retail offerings.

Several procedural steps remain prior to groundbreaking, which is planned for spring 2025, including the final financing approval by the IHDA board of directors, which is anticipated for this November. The city’s TIF Investment Committee recently authorized $5.5 million in TIF funding to support the redevelopment. Next steps on final TIF approval and other financing include a full city council vote, expected later this year.

Subsequent residential phases call for a series of smaller, three-story buildings. Those apartments will be geared toward families with children. There will also be lower-density townhome-style rentals and for-sale units along the south and west perimeters of the site. Future plans also envision an age-restricted building for seniors to be located along 44th Street.

Infrastructure improvements to roadways and utilities have commenced in recent months to prepare the location for redevelopment. The George Sollitt Construction Co. is leading construction of the LeClaire Courts residential phase. Solomon Cordwell Buenz is the architect.

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