Related Midwest, Heartland Housing, Bickerdike Redevelopment Corporation, Magellan Development Group, and Ardmore Associates will lead the multi-phase redevelopment of the Lathrop Homes at Diversey Parkway and Clybourn Avenue on the Lincoln Park / Lake View border, according to a media release from the Chicago Housing Authority (PDF).
The companies, working together as Lathrop Community Partners, “best presented an approach to achieving the vision for the Lathrop redevelopment” during an evaluation of six different development groups. The developers were judged on their track record for closing deals; innovative approaches to mixed-income development; capacity to competitively pursue various federal and state funding; comparable experience in both size and complexity to Lathrop Homes; and ability to provide social service programming for all age groups and to build community across the full income spectrum, the release says.
The redevelopment will begin early next year, and will result in the creation of 800 to 1,200 new homes, at least a third of which will be reserved for public housing, the Sun-Times reports.