According to The Architect’s Newspaper, Brinshore Development has received the go-ahead from the Community Development Commission to convert the Morris B. Sachs Building at Diversey, Kimball, and Milwaukee avenues in Logan Square into the Hairpin Lofts and Logan Square Community Arts Center. This actually happened back in December, according to the city’s Web site.
The vacant flatiron building will consist of 28 residential lofts (most designated as affordable housing units), a 7,000 square-foot community arts center, and four ground-level retail spaces. The development will be funded partially by TIF funds. Hartshorne Plunkard has been tapped to restore the building.
The last I remember hearing about this proposal was back in April 2008, when about 100 people rallied in favor of a counter-proposal that would convert the building into almost 50 affordable housing units.
(Thanks to Chicagoist for the link.)
I’ve been ready through the TIF budgets and I came across the Sachs Hairpin Lofts with the following listed at “pending” in the budget.
-2010 Sachs Hairpin Lofts (payment during construction) $3,500,000
-2011 Sachs Hairpin Lofts (payment for retail portion) $1,210,000
-2011 Sachs Hairpin Lofts (payment at completion) $2,400,000
Possibly a wopping $8,000,000 through the TIF funds.
Sorry,
that’s a wopping $7,110,000…….
Shouldn’t we be thanking Carter for this link? Oh, oops, this was older thank his original comment. Sorry.