^ Actually, I do have a job opportunity in the south suburbs, so ya never know...
I never saw this posted here:
9/24/2008 10:00:00 PM Email this article • Print this article
An artist’s conception of how the proposed Renaissance Village would look in East Pilsen.
Fujikawa Johnson Gobel Architects
Developer has big plans for derelict parcels
Hundreds of new units in ‘Renaissance Village’
By MICAH MAIDENBERG
Editor
Sandwiched between the Dan Ryan Expressway and Chicago River south of 18th Street, with borders close to Chinatown and the South Loop, is an unassuming part of East Pilsen filled with two-story residential buildings and vacant lots. A developer is now planning a large new development that could transform the area.
Renaissance Village, a project of Chinatown-based developer R.M. Chin & Associates, could eventually include as many as 446 for-sale and rental units spread over 5.5 acres in several new buildings around 20th Street and Jefferson, Desplaines and Ruble. There will be 40,000 square feet in retail space and a 0.3-acre park.
Twenty-one percent of the units will be marked for affordable buyers and rentals, calculated as 60 to 90 percent of the area median income for Chicagoland. Current area median income for a household of four is about $75,000, according to the Illinois Department of Housing.
"I figure this piece of property was bypassed even though there has been growth all around it," said Raymond Chin, president of the firm developing the project. "We feel that with more growth east of the river, there is natural spillover."
A zoning change was needed to get the land from C3-3, a commercial and manufacturing designation, to a B2-3 neighborhood mixed-used district. A planned development will govern the site. Twenty-fifth Ward Alderman Danny Solis supports the project.
"Compared to other areas in my ward," Solis said, referring to Pilsen, Heart of Chicago and Little Italy, "this is the one neighborhood-bound by Cermak, 16th Street, Canal and the expressway-that really doesn't have strong identity. I think this development is going to help bring that."
Solis said he had considered other projects over the years for the site. Costco was once interested, but there wasn't enough land. It has been vacant for over 20 years, he said.
Chin said his group had yet to finance the project but that he believed with the zoning change in place, his firm would be able to make pre-sales and secure a loan. The goal is to start construction on 112 units in two eight-story buildings by the second quarter of 2009.
"Hopefully, by the time election comes, the government will have this economy back in shape," he said.
The Plan Commission gave the project permission to go ahead in a unanimous vote at its September meeting; the project still needs full approval from the city council.
The land is within the Pilsen Industrial Corridor, an area designated by the city to assist current manufacturers and encourage new users to open. The Pilsen Manufacturing District is to the east.
While zoning changes for large-scale residential development have been controversial-many community residents fought a 387-unit project at 18th and Peoria-no one spoke against Renaissance Village at the Plan Commission meeting.
David Betlewjewski, executive director of the 18th Street Development Corporation, supports the project because the land in question has sat vacant for years and because of the affordable component-both in terms of the percentage of units slated as affordable and the area median income calculation.
"We like development but we like balanced development that fits into the neighborhood, that doesn't create a rich vs. poor scenario," he said. The 18th Street Development Corporation will help Chin find buyers for the affordable units.
The group also works to bring new businesses into the Pilsen Industrial Corridor. Asked if he was concerned about building residential units in the corridor, Betlewjewski said the area had always been a buffer between residential units and industrial users south of Cermak.
"If this had been a true part of the PMD, that would have been much bigger issue," he said, referring to the Pilsen Manufacturing District. "The fact that it had always been a buffer boundary makes it a different story."