Photo caption: A rendering of Thrive Englewood
The amenity-rich Thrive Englewood development will feature 62 one- to three-bedroom units
On Tuesday, April 11, 2023, Mayor Lori E. Lightfoot, City officials, and DL3 Realty broke ground on Thrive Englewood, a $40.2 million INVEST South/West project in Englewood that will bring a mixed-income, transit-oriented development to the 900 block of West 63rd Street.
“I am thrilled to join our partners at DL3 Realty and celebrate this groundbreaking,” Mayor Lightfoot said. “Projects like Thrive Englewood are a hallmark of my administration’s INVEST South/West initiative and its mission to create economic opportunities in our neighborhoods. With this latest groundbreaking, we are delivering mixed-use, affordable housing and promoting a pedestrian-friendly corridor in Englewood that will serve residents for years to come.”
City support for the minority-led project includes $13.5 million in Multi-Family loan funds, $5 million in Tax Increment Financing (TIF), $1.5 million in Low-Income Housing Tax Credits, and $240,000 in donation tax credits.
Located at 914 W. 63rd St., the project’s first phase consists of 62 one- to three-bedroom apartments, 51 of which will be affordable for households earning up to 60% of the area’s median income (AMI). Two of the units will be for live-work tenants.
The six-story project includes an on-site fitness room, a community room, bike storage, and laundry facilities on each floor. Nearly 2,500 square feet of ground-floor retail space is anticipated to include casual dining options. Designed by Perkins+Will, the building will be constructed utilizing fiber cement panels, masonry brick, metal siding and canopy, floor-to-ceiling windows, and aluminum and glass storefronts.
The 2.4-acre project site will include a second phase with 44 mixed-income apartments. Both buildings and the retail space will be served by a landscaped, 65-space parking lot.
“Thrive Englewood evolved out of a City request for proposals for the nearby Green Street firehouse, which is being transformed into a culinary food hub and business incubator,” Department of Planning and Development Commissioner Marice Cox said. “Together, these projects are revitalizing more than four acres of vacant City land where the people of Englewood can live, work, visit and call home.”
Thrive Englewood will close out the final phase of Englewood Square Phase I, which began with the development of the Englewood Square shopping plaza in 2016. The new buildings will add density and commercial activity to transform 63rd Street into a pedestrian-friendly, walkable corridor.
“Thrive Englewood embodies the transformative aspirations of INVEST South/West, and meaningfully leverages its proximity to public transit,” Department of Housing Commissioner Marisa Novara said. “In addition to aligning with the City’s equitable Transit Oriented Development principles, the project will have more than 80% of its units made affordable to tenants at 60% AMI and below. The project therefore creates intersectional benefits for this historically marginalized South Side community.”
“DL3 Realty is excited to partner with the City of Chicago to bring the first modern, luxury, affordable residences to Englewood in over 75 years,” added DL3 Managing Partner Leon Walker. “Thrive Englewood will help build a vibrant and walkable community that encourages both families and businesses to re-invest in the future of this proud and historic community on the South Side of Chicago.”