Habitat announced two significant milestones in its efforts to bring new mixed-use and mixed-income developments to Chicago.
The Habitat Company, together with Cabrera Capital Partners, completed the financial closing for the first residential phase of the long-planned $127 million redevelopment of LeClaire Courts. The closing officially sets construction in motion for the mixed-income community, with work expected to begin this fall. Habitat’s multiphase redevelopment will include up to 700 residential units, 440,000 square feet of commercial space, and open space.
Habitat also achieved full lease-up of The Junction at OC Living, the second residential phase of the $200 million mixed-use, mixed-income Ogden Commons development. The third and final residential phase of the development, known as The Parkline at OC Living, is now underway. The Parkline will feature a mix of townhomes and multi-flat residences with larger floor plans.
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