F.H. Paschen has topped off the first phase of the Bellwood Gateway Development, a $43 million workforce housing project in the Chicago suburbs.
The four-story, 71-unit community at 2711 and 2712 St. Charles Road will also include 6,000 square feet of ground-floor commercial space and is set to open in Spring 2026.
The Bellwood Gateway Development broke ground in July 2024, repurposing the sites of the former Village Hall, police and fire stations, and emergency management office. Designed by Chicago-based DesignBridge, the community will feature a modern aesthetic with light-filled spaces.
The project is financed through a combination of TIF financing, a State of Illinois grant, and the first-of-its-kind use of workforce housing bonds in Illinois. “Our integrated approach, in partnership with partners like Mesirow Financial, can make local government housing investments a reality,” said Tom Cross, head of the firm’s housing unit.
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