CHICAGO—Chicago Mayor Lori Lightfoot joined city officials and DL3 Realty in a groundbreaking ceremony for Thrive Englewood, a $40.2 million mixed-income, transit-oriented development project in Englewood. The development, which is part of the INVEST South/West initiative, is located at the 900 block of West 63rd Street.
“Projects like Thrive Englewood are a hallmark of my administration’s INVEST South/West initiative and its mission to create economic opportunities in our neighborhoods,” said Mayor Lightfoot. “With this latest groundbreaking, we are delivering mixed-use, affordable housing and promoting a pedestrian-friendly corridor in Englewood that will serve residents for years to come.”
The project’s first phase includes 62 one- to three-bedroom apartments, with 51 affordable units for households earning up to 60% of the area’s median income. The six-story project will also include a fitness room, a community room, bike storage, laundry facilities on each floor, and 2,500 square feet of ground-floor retail space.
The second phase of the project will include 44 mixed-income apartments. Both buildings and the retail space will be served by a landscaped, 65-space parking lot. The Thrive Englewood project site covers 2.4 acres and is designed by Perkins+Will, utilizing fiber cement panels, masonry brick, metal siding and canopy, floor-to-ceiling windows, and aluminum and glass storefronts.
Thrive Englewood will close out the final phase of Englewood Square Phase I, which began with the development of the Englewood Square shopping plaza in 2016. The new buildings will add density and commercial activity to transform 63rd Street into a pedestrian-friendly, walkable corridor.
“Thrive Englewood embodies the transformative aspirations of INVEST South/West, and meaningfully leverages its proximity to public transit,” said Department of Housing Commissioner Marisa Novara. “The project will have more than 80% of its units made affordable to tenants at 60% AMI and below. The project, therefore, creates intersectional benefits for this historically marginalized South Side community.”
DL3 Realty Managing Partner Leon Walker added, “Thrive Englewood will help build a vibrant and walkable community that encourages both families and businesses to re-invest in the future of this proud and historic community on the South Side of Chicago.” The city is providing $13.5 million in Multi-Family loan funds, $5 million in Tax Increment Financing, $1.5 million in Low-Income Housing Tax Credits, and $240,000 in donation tax credits to support the project.
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