Although it’s currently perceived as a developer of luxury housing in prime locations, the reality is that many of The Habitat Company‘s locations were speculative at the time they were built, and a number included a mix of affordable and market-rate units. In the second segment from last week’s sit-down at Habitat HQ in River North, President / CEO Mark Segal talks about the company’s history of taking chances on emerging neighborhoods and its commitment to mixed-income development.
The good news is South Commons seems to be an affordable oasis in relatively close proximity to the Loop. The bad news (and probably a big reason it is still affordable) is the lack of amenities in the area. So what’s holding it back? Is it the LSD connector / Mercy Hospital property cutting off further development south of Cermak? Do developers look at the proximity to Bridgeport & Chinatown and figure people will just drive there to grab a bite? I guess I shouldn’t be surprised since it doesn’t seem that the South Loop has filled in with too many amenities other than the big boxes on Roosevelt or near Canal that people can drive to. The streets are fairly wide and the congestion (especially compared to the North Side) is tolerable so I guess driving is appealing to residents in that area.