Continuing the Chicago Housing Authority‘s $1.6 billion Plan for Transformation, the mixed-income community Parkside of Old Town will bring more than 760 housing units over the next five years to an 18-acre Near North site bordered by Larrabee, Division and Oak streets and Seward Park.
The development team includes Kimball Hill Urban Centers, Cabrini-Green LAC Community Development Corporation and Holsten Real Estate Development Corporation, which previously teamed with Kenard Corporation for the 261-unit North Town Village. North Town Village, built on a seven-acre site at Halsted and Evergreen, was a major test case as one of the first major mixed-income developments completed under the CHA plan.
One of the main criticisms of that development was a lack of safe outdoor space for children. Adjacent Stanton Park was the site of gang violence spilling out of nearby CHA high-rises. But the refurbished Seward Park, which forms the eastern border of Parkside of Old Town, is located away from occupied CHA high-rises, and plans call for more green space and “tot lots.”
Parkside will be 50 percent market-rate housing, 30 percent CHA replacement housing, and 20 percent “affordable” housing. The market-rate component will include both rentals and homes for sale. The second option includes low-rise and mid-rise buildings with condos ranging from 714 to 1,500 square feet and townhomes ranging from 1,450 to 2,200 square feet. Condos start in the low $200s and townhomes in the mid-$500s.
Homes will have hardwood floors, granite countertops, stainless steel appliances and terraces, balconies or rooftop decks. The community will also have access to a fitness center, business lounge and Holsten Human Capital Development’s workforce development programs. The first of two phases, representing 208 homes, is underway. The sales center is located at 465 W Division St.