The City of Chicago has selected Austin United Alliance’s proposal for the redevelopment of the Austin-Laramie State Bank site, which includes the historic Art Deco Laramie State Bank.
The bank building was originally built in 1929 and has an elaborate terra cotta facade and is considered an example of Art Deco ornamentation in Chicago. The building has sat vacant for nearly a decade.
The design proposes restoring the bank building to house a bank, a cafe, and the Chicago Blues Museum on the first floor and a business incubator on the second floor. The remaining vacant lots will be turned into a six-story, 76-unit mixed-income apartment building with a courtyard open to the public. The apartment building will house 53 tenants who earn 60% of the area median income. The remaining 23 units will be rented at market rate.
The project is part of INVEST South/WEst, a community improvement initiative to invest more than &750 million in public funding to reactivate 12 key commercial corridors in Chicago’s South and West sides.
Related Stories
High-rise Construction | Oct 4, 2017
90-story mixed-use building could become Denver’s first supertall tower
Manhattan-based Greenwich Realty Capital is developing the project.
Reconstruction & Renovation | Sep 28, 2017
Plans for Chicago’s historic Post Office building revealed by 601W Companies and Gensler
The redevelopment project is currently the largest in the nation.
Mixed-Use | Sep 26, 2017
Perkins+Will designs new international business community in Cali, Colombia
The new free trade zone is designed to resemble a small village.
Mixed-Use | Sep 25, 2017
Getting there is half the fun: Mass transit helps entertainment districts thrive
In Los Angeles, the entertainment district L.A. Live is expected to benefit from the proposed expansion of the city’s mass transit system.
Mixed-Use | Sep 25, 2017
One of L.A.’s most sought-after neighborhoods receives a new mixed-use development
The new development will feature 166 units and 9,000 sf of ground-floor retail.
Mixed-Use | Sep 22, 2017
Defending against the online dragon
Some entertainment districts are going light on retail, partly because “the bulk of the leasing demand is for dining and entertainment,” say Barry Hand, a Principal with design mega-firm Gensler in Dallas.
Mixed-Use | Sep 21, 2017
Entire living rooms become balconies in a new Lower East Side mixed-used development
NanaWall panels add a unique dimension to condos at 60 Orchard Street in New York City.
Mixed-Use | Sep 18, 2017
Urban heartbeat: Entertainment districts are rejuvenating cities and spurring economic growth
Entertainment districts are being planned or are popping up all over the country.
Mixed-Use | Sep 14, 2017
Capital One eschews the traditional bank with the Capital One Café
The new branch in downtown Santa Monica offers 8,400 sf of space designed by Gwynne Pugh Urban Studio.
Libraries | Sep 1, 2017
Johnson Favaro selected to design new main library in Riverside, Calif.
The choice comes after a 12-year planning process and a yearlong selection process.
