Habitat Secures Financing for Next Phase of Ogden Commons Mixed-Use
Chicago-based The Habitat Company secured financing for the residential Phase 2 at Ogden Commons, a $200-million mixed-use, mixed-income project in the North Lawndale neighborhood of Chicago’s West Side. Construction has started on a 92-unit building that will consist of 90% affordable apartments with the remainder market-rate.
Located at 1325 S. Washtenaw Ave., the four-story rental building will be just steps from Ogden Commons’ three-story commercial building that marked Phase 1 of the 10-acre development and was completed in 2021.
Developed by The Habitat Company, along with Sinai Health System, Alecko Capital and the city of Chicago, Ogden Commons is the city’s largest Opportunity Zone project.
“With the first residential building breaking ground, we are now one step closer to fulfilling our vision of a multi-faceted, mixed-use community that combines essential healthcare, housing, retail and office space in one location,” said Matt Fiascone, president of The Habitat Company.