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CHICAGO—Chicago-based Centrum Partners LLC recently broke ground on Centrum Lakeview, a five-story, 36-unit residential apartment building at 3400 N. Lincoln Ave. in Lakeview. Located adjacent to the “L” Brown Line stop at Paulina, it is one of the first approved projects under the City of Chicago’s transit-oriented development ordinance, which allows the construction of large residential buildings with reduced parking if they are located near public transportation or designated pedestrian-oriented streets.  

“The idea is if you have more housing close to transit you are going to get more cars off the road,” Centrum partner Graham Palmer tells GlobeSt.com. And although he expects a relatively diverse group to occupy the new building when Centrum completes it in spring 2016, “given the site’s proximity to the train station we believe that it will attract individuals who prefer using public transportation. The largest group of renters in terms of age is going to be millennials. And they tend to take public transportation or ride their bikes to work.”

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