Englewood Connect community hub has received US$ 6M in TIF financing and a property transaction from the Community Development Commission. The proposed site, located at 6204 S. Green behind the Englewood Square redevelopment, is presently vacant ground, as is the old firehouse.
The project, led by McLaurin Development and Farpoint Development, was chosen as the winner of the Englewood Invest South/West RFP in March 2021. The Englewood Connect idea, designed by SOM and TNS Studio, is an entrepreneurial and community hub that will serve as an incubator for small firms and entrepreneurs.
The new center will support local business and a culinary ecology, improve connectivity and pedestrian access, and provide adaptable public spaces. These places will be open to all local people all year and will be linked to the adjacent neighborhoods. The initial part of the construction will be to repair the iconic historic fire station, which was erected in 1929. Now unoccupied, it will be transformed into a commercial kitchen and event space for the community. In the second phase, the Green Street Commons and the Englewood Living Room, a projected pavilion with moveable doors and windows that would be open year-round, will be built, providing for markets, co-working spaces, exhibitions, and places for the community to meet and connect with one another.
More on the Englewood Connect community hub
The projected $6 million in TIF financing, $7 million in debt, and $800,000 in owner equity will support the $14 million in redevelopments. TIF financing would be distributed in three stages under a redevelopment agreement (RDA). Following the completion of the RDA, the first payment would be $750,000. The second installment would be $3.25 million upon Phase 1 completion, and the last $2 million would be paid at project completion. The city will write down the land to $1 as part of the financial framework. The general contractor will be BOWA Construction.
