Columbia 2900 LLC will build 80 units, ranging from townhomes in the mid-$400,000 range to $1-million single-family homes in a $40-million project at 2900 N. Paulina St.
Meanwhile, the Thrush Co. is involved in the Chicago Housing Authority's $34-million redevelopment at 4101 S. Cottage Grove Ave., which also will front on Drexel Boulevard and stretch to 42nd Place.
Columbia 2900 LLC partner James D. Letchinger tells GlobeSt.com his group hopes to break ground early next year. As for completion, "In a perfect world, 18 to 24 months," he says.
Columbia 2900 LLC's plans have gone through about a dozen changes during community meetings, Letchinger says, among them being a two-toned façade that failed to satisfy one plan commission member and a traffic scheme in the five-acre site suggested by the city.
The plans include 63 townhomes and condominium units, as well as 17 single-family homes.
The CHA's plan won the support of the North Kenwood-Oakland Community Conservation Council, as well as 4th Ward Alderman Toni Preckwinkle. Rather than 476 units that are permitted on the 3.87-acre site, the CHA is building 71 condominium units at market rates, 27 units at affordable rates, 30 CHA rental units that involve a subsidy to the tenants, and nine units at affordable rates.
Thrush Co. principal Phil Wolk tells GlobeSt.com he hopes to see a groundbreaking in October. Construction of the project will take three years, he adds.
Units will range from 700 sf to 2,300 sf, with a cost of $155 per sf.
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