Chicago-based Habitat and Cabrera Capital Partners have announced the approval of a $27 million capital loan from the Chicago Housing Authority (CHA) for the first phase of a residential redevelopment on the city’s Southwest Side.
LeClaire Courts, a 32-acre site bounded by Cicero Avenue to the east, 45th Street to the south, Lavergne Avenue to the west, and the Stevenson Expressway to the north – was previously home to the LeClaire Courts public housing community.
Habitat’s multi-phase plan includes 700 residential units, 440,000 square feet of commercial space; and publicly accessible open areas.
“The LeClaire Courts redevelopment has transformative potential, and this loan approval solidifies a critical piece of the capital stack, enabling other agencies, lenders and investors to move forward knowing the CHA is fully committed to this project,” said Habitat President Matt Fiascone. “Together, we have a shared vision of transforming this vital artery of the city into a community that local residents are excited to once again call home.”
Phase one of construction includes two six-story mixed-use buildings on the west side of Cicero Avenue between 44th and 45th streets with 183 apartments, a 14,000-square-foot early childhood center and 2,200 square feet of additional first floor retail space across the two structures.
Ninety percent of the homes will be designated as affordable.
A rooftop apiary on the north building will enhance urban biodiversity, foster environmental sustainability, provide fresh honey for residents and offer educational opportunities for families. Additional exterior features will include community-centered murals on both the north and south buildings, surface parking, two playgrounds, a landscaped gathering area between the structures with a greenway running through it, and accessible walking paths that will eventually connect to an on-site grocer, healthcare facilities and other retail offerings.
Several procedural steps remain prior to LeClaire Courts’ groundbreaking, planned for spring 2025, including final financing approval by the Illinois Housing Development Authority’s Board of Directors, anticipated for this November.
“The LeClaire Courts redevelopment embodies our vision of creating a vibrant, inclusive community that addresses the needs of the Southwest Side,” said Martin Cabrera, founder and CEO of Cabrera Capital. “This project goes beyond housing to include vital amenities, services and opportunities that will enrich the lives of residents and stimulate economic growth.”
Future phases will include a series of smaller, three-story elevator buildings, whose larger apartments will be geared toward families with children, as well as lower-density townhouse-style rental and for-sale units along the south and west perimeters of the site.
The plan also includes an age-restricted building for seniors to be located along 44th Street, providing older adults with easy walking access to both healthcare and groceries in the immediate area, and connectivity to intergenerational activities with children and families within the development.
