Canvas at Leland Plaza has delivered 63 affordable homes, 5,500 square feet of commercial space, and a parking garage serving residents and the public at the gateway of Lincoln Square’s commercial corridor in Chicago.
Developed by The Community Builders (TCB), the mixed-use development replaces an underutilized city-owned surface parking lot, expanding affordability, addressing the public’s parking concerns, and activating the streetscape.
“Canvas is right in the heart of the Lincoln Square neighborhood of Chicago, which is one of the city’s stronger neighborhoods. Because of the great amenities in Lincoln Square, there’s been high demand, and affordability has increasingly become an issue over the past decade or more,” says Will Woodley, senior vice president of real estate for the Midwest region for TCB.
Canvas serves residents earning between 30% and 80% of the area median income. The Chicago Housing Authority provided Section 8 project-based vouchers for 17 units. In addition, 19 units have an artist preference.
TCB partnered with architect DesignBridge and general contractor Leopardo Construction on the development. According to Woodley, the site was both a challenge and an opportunity.
Because of the tight and deep shape of the site, one of the innovations employed is the use of “borrowed light units.” These units are strategically designed to bring natural light into spaces that have limited access to windows. In addition, to provide residents with a sense of outdoor space despite the tight building footprint, the design incorporated Juliet balconies. Other standout features include a “whisper room,” which offers dedicated space for residents to work or artists to practice, and a terrace that overlooks a plaza where festivals and the farmers market take place and has views of the Chicago skyline.
According to Woodley, the $43 million low-income housing tax credit (LIHTC) development received a lot of local support from neighborhood organizations, the Chamber of Commerce, major cultural institutions, and aldermen Matt Martin and Andre Vasquez. Funding partners included the city of Chicago; Stratford Capital Group as the LIHTC syndicator; CIBC Bank as the investor as well as the construction and permanent lender; Benefit Chicago; and ComEd Energy.
“Canvas at Leland Plaza demonstrates how affordable housing, including affordable mixed-used developments, can strengthen the surrounding neighborhood and change perceptions of affordable housing’s role within their communities,” Woodley adds.