MAYOR EMANUEL, CHICAGO HOUSING AUTHORITY ANNOUNCE PROPOSED NEW AFFORDABLE HOUSING AND FLEXIBLE FORMAT TARGET ON CITYS NORTH SIDE
Washington, D.C. – (RealEstateRama) — Mayor Rahm Emanuel and Chicago Housing Authority (CHA) CEO Eugene Jones, Jr. today announced the CHA is partnering with several Chicago-area developers to bring a proposed mixed-income and mixed-use development to the Rogers Park neighborhood that includes affordable and market rate housing, a “flexible-format” Target store, and an upgraded community room and open space for residents of CHA’s Caroline Hedger Apartments for seniors on Sheridan Road near Devon Avenue.
“In Chicago, we are committed to building strong neighborhoods to enhance the quality of life for every resident,” said Mayor Emanuel. “This new development will advance the fortunes and opportunity for the Rogers Park community by providing new jobs at Target, additional affordable housing and improved amenities for seniors nearby.”
The community input process is underway with meetings held separately by Jones and Alderman Joe Moore (49th) in recent months with stakeholders including Caroline Hedger residents.
“Having met with senior residents of Caroline Hedger and looked at the plans, CHA is pleased to support this proposed development,” said Jones. “Not only will seniors benefit from an upgraded community room and open space, but the development supports our goal of expanding affordable housing opportunities on Chicago’s North Side and provides retail amenities and jobs that will benefit Hedger residents and people of all incomes who live in the area.”
Developed by Three Corners Development, in partnership with Iceberg Development, Lightengale Group and Cubit Development, The Concord at Sheridan proposed mixed-use development is adjacent to the Hedger Apartments and includes a six-story apartment building with ground floor retail that would expand affordable housing opportunities on Chicago’s North Side and bring new retail options to area residents.
Alderman Moore, who represents Chicago’s Rogers Park community, has met with Caroline Hedger residents and residents who live immediately adjacent to the proposed site to solicit their input on the proposal. He plans to host a community meeting on Monday, Jan. 30, 7 p.m., at Loyola University to answer questions and seek further community input and feedback.
“I’ve been pleased with the responsiveness of the CHA and the developers to the suggestions offered by the nearby neighbors, said Moore. “I certainly believe my community can benefit from more quality market-rate and affordable housing.”
The development will include 111 mixed-income apartments, 29,400 square feet of ground-floor retail space and a 23,000-square-foot flexible-format Target store. The development will also offer 133 below-grade parking spaces for residents and retail customers. The new community room at the Hedger Apartments will include 5,000-square-feet of space with a roof-top terrace. Additionally, improvements will be made along Sheridan Road to allow for better traffic flow in the area.
“The fact that a national retailer with the reputation of Target is now interested in Rogers Park speaks to the progress we have made in our community over the last several years,” Moore added.
Target’s flexible-format stores provide a convenient shopping experience for densely populated areas and nearby college campuses. The Rogers Park store will be smaller than a typical Target store and will carry a curated assortment of products to provide a more locally-relevant shopping experience. The store’s main entrance will be at street level along Sheridan Road, with an additional entrance from the parking garage which includes an elevator up to the street level.
“We are thrilled about the opportunity to serve even more guests in Chicago with the addition of a new 23,000-square-foot flexible-format Target store in Rogers Park,” said Mark Schindele, senior vice president, Properties, Target. “We’d like to thank the Chicago Housing Authority for their partnership and for thinking of Target as the ideal retailer to provide a convenient shopping experience for the residents of The Concord at Sheridan and the surrounding Rogers Park and Edgewater neighborhoods. We’ve been hearing about guests’ excitement for the proposed new Rogers Park Target store that will provide a customized product assortment to suit the community’s needs.”
The CHA and the developers are seeking a planned development designation for the site, which requires the approval of the Chicago Plan Commission and the Chicago City Council. If they receive the approval, the CHA and developers hope to break ground as soon as this summer with a planned opening in the fall of 2018.
Press contacts:
Office of Communications – Chicago Housing Authority
Molly Sullivan: (312) 786-3344; msullivan (at) thecha (dot) org
Matthew Aguilar: (312) 935-2646; maguilar (at) thecha (dot) org
