 saHeartland Housing Alliance in collaboration with Oak Park Regional Housing Center has broken ground on the Austin United Alliance in Chicago.
Mayor Lori E. Lightfoot participated in the groundbreaking event together with other city officials, members of the local community, philanthropic organizations, and business partners to celebrate the third anniversary of INVEST South/West.
At the occasion, Lightfoot unveiled new efforts for Invest South/West. He also highlighted they plan to shift the emphasis from large-scale infill projects on commercial corridors to more modest projects.
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During the break ground event, Major Lori Lightfoot said, “Since the fall of 2019, public and private sectors have committed $2.2 billion in investment, and as a result, INVEST South/West is prepared to extend its reach beyond retail districts to surrounding residential blocks that are essential to the creation of a sustainable neighborhood”
He added “in the near future, we will bid farewell to the numerous vacant lots that dot the South and West Sides and say hello to brand-new two-flat, three-flat, and other walk-up buildings that have housed Chicago families for decades”
Overview of the Austin alliance project in Chicago
The project is a mixed-use development that won the Austin Invest South/West RFP issued by the city. It is located next to the historic Laramie State Bank Building.
The proposal will include the construction of a six-story, 78-unit mixed-income structure. Furthermore, a new bank branch, cafe, Blues Museum, and office/coworking space are all part of the plan.
Further, these will be built on roughly 5,600 vacant properties in the neighborhoods that are held by the city.
This project was designed by Valerio Dewalt Train Associates, with a projected cost of $47 million.
Additionally, Latent Design and Bauer Latoza Studio will oversee the refurbishment and restoration of the bank. Construction is about to start, and 2024 is the projected completion date.
