Habitat Fully Leases First Phase and Closes on Second Phase at Ogden Commons Mixed-Use Development

Midwest-North regionNews

Habitat has successfully leased all units in Phase I of OC Living, a residential building located on Washtenaw Avenue. This initial phase, completed last summer, consists of 92 units, with 90% designated as affordable apartments and 37 units allocated for Chicago Housing Authority residents. Chicago-based Habitat, a prominent multifamily developer, has now sealed the deal on Phase II at Talman Avenue, a $38 million project featuring 75 apartments, 76% of which are reserved as affordable units, including 30 units for CHA residents. Groundbreaking for Phase II occurred last summer, and construction preparation is currently in progress.

According to Habitat’s president, Matt Fiascone, this achievement marks a significant milestone for the Ogden Commons development, showcasing Habitat’s dedication to providing quality, affordable housing in neighborhoods like North Lawndale. The late founder and chairman, Daniel Levin, was passionate about creating inclusive communities, and OC Living embodies this vision.

The upcoming Phase II will offer a variety of apartment sizes, including studio, one-bedroom, two-bedroom, and three-bedroom units. Residents will have access to various outdoor amenities, such as a children’s play area, bike racks, walking paths, and landscaped areas. Indoor facilities will include a mailroom, resident lounge, fitness center, bike room, and laundry facilities. Units will feature modern amenities like Wi-Fi, cable TV, walk-in closets, and energy-efficient appliances.

OC Living is situated near Ogden Commons’ commercial building, which houses healthcare services, a bank, restaurants, and coffee shops. This mixed-use development aims to enhance community engagement by providing essential services and housing options in an historically underserved area. Plans for a third phase of OC Living are in the works to accommodate larger family units, with groundbreaking expected in the near future.

The success of OC Living Phase I and the progress of Phase II highlight the effectiveness of public-private partnerships in addressing housing needs. Habitat, alongside Sinai Chicago and the city of Chicago, continues to develop Ogden Commons as one of the city’s largest opportunity zone projects. Funding from various sources, including the city, CHA, tax credits, and financial institutions, has contributed to the project’s success.

Habitat looks forward to completing Ogden Commons, which will offer commercial spaces and over 350 mixed-income housing units upon finalization. The city of Chicago’s support, coupled with Habitat’s expertise and partnerships, reflects a commitment to addressing the housing crisis. This development serves as a model for future projects that promote community engagement and inclusivity in housing initiatives.