Just to get the weekend off to a good start we thought we’d open a can of worms by bringing up the Chicago Housing Authority’s Plan for Transformation. We got hold of a rendering for Jackson Square at West End, the 780-unit mixed-income development that will replace the old Rockwell Gardens public housing development on a site bounded by Madison, Van Buren and Rockwell streets and Western Avenue.The market-rate component of the development is reasonably priced considering that it is located nice and close to the Eisenhower, the Loop and the University of Illinois at Chicago campus. Homes are priced from the $200s to the $400s, which selling agent AMS Realty claims is 20 percent lower than what you’d find in other parts of the city for equivalent homes. Despite the lower price tags, the developer doesn’t seem to be skimping on finishes. The units include designer lighting, multimedia wiring, maple cabinets and stainless steel appliances.
The first of several phases is 75 percent sold and construction is underway. Developer East Lake Management & Development Corp says delivery of Phase 1 is slated for late 2006.
East Lake’s Eileen Rhodes told Yo that the company aimed to scale down the property, creating lots of green spaces and well-lit, small street grids. The low-rise buildings will feature distinctly Chicago touches such as mansard roofs, brick and limestone facades and yards with wrought iron fencing. In effect, the development has created a whole new neighborhood.
Yo wants to hear from anybody familiar with the area who can tell us about the changes they’re observing.
As someone who purchased a market-rate unit at Jackson Square, I cannot help but comment on this article. I think that this area is extremely promising. I purchased an 1,800-ft duplex townhome with parking for about 25% of what a similar place would cost in the Loop, which is just two miles away. My new building will be a block away from the Blue Line El and there are two Metra stations as well as the Green Line El in approximately a three-mile radius from the development. CTA is considering creating an additional El Line, the Circle Line, which will run along Western or Ashland, connecting it to Blue and Orange lines and making both Northwest side (O’Hare) and Southwest side (Midway) very accessible. Geographically, the Western/Jackson area is right in the center of Chicago so, no matter where you work or go to school, your commute will be reasonable. The 90 and 94 are under 5 min. away. The Loop is just 5-10 min. away.
As far as additional development, there is new market rate residential development, which includes luxury condos, all along Western, from Washington to Roosevelt, and, of course, east of Western. Many predict that the area will soon merge with the hot West Loop. There is also a commercial development planned on Western and Madison. The development will be anchored by a grocery store and will include 10 additional retail shops.
The Research Park/Illinois Medical District is just about .5-mile away. Research Park will be building new facilities to house biotech companies and their development labs, so there will be an inflow of highly educated professionals wanting to live in close proximity to work. The development is also close to UIC and Rush (hint: good rental potential).
The development indeed offers luxury finishes, including s/s and hardwood, and their prices on upgrades are very reasonable compared to other developers.
As in any gentrifying neighborhood in its early stages of development, security was of issue to my family when we looked at the development. This is a gated community. Parking is located in heated, secured garages. There is a video monitoring system shat will show you who is ringing on your doorbell, and the developer teamed up with ADT to prewire residences for ADT’s security systems.
Right now this is still a rough area, but the City of Chicago is taking over existing properties on the Jackson Square site by the power of eminent domain, so a few remaining structures and an old shopping plaza on Jackson/Campbell will all be replaced. I drive by the development every couple of weeks and the changes, especially compared to 6 month or a year ago, are unbelievable.
Last but not least, from a humanitarian perspective, this is a really exciting project. The development has a rental component. Former CHA residents who show the drive to change their lives by demonstrating that they are employed or go to school full-time and taking monthly drug tests are given an opportunity to receive rental subsidies for rental apartments that will be part of the development. Rentals will be 30% market rate, 30% affordable (for those making under 30K), and 30% CHA. It feels really good to be part of such a project.
In summary, I am very excited about this development. Three to five years from now, this should be a brand new University Village-like neighborhood (only this one is so much closer to the El!)