Bickerdike Redevelopment Corporation

48th Ward Project

Overview
Bickerdike is proposing the development of a multi-family equitable transit-oriented affordable housing development at 5853 North Broadway. This site is City-owned and currently serves as a Streets and Sanitation ward service yard. Alderman Osterman (48th) has expressed a strong desire to see this site redeveloped as affordable family rental housing to combat the loss of affordable rental units in his ward due to single-family and condominium conversions of existing rental buildings.

Site Acquisition: RFP to Negotiated Sale
The Department of Planning and Development has recently changed course on issuing an RFP for this site and has requested that Bickerdike submit a Negotiated Sale Application for the development of affordable housing at this site.

Project Concept and Vision
The project at this time contemplates only the acquisition and redevelopment of the ward service yard and not the adjacent three-flat. Despite the somewhat smaller size, we believe that the site can still accommodate a project that meets Alderman’s expressed desire for family-sized units and also delivers enough overall units to make sense for Bickerdike’s property management model.

The current vision for the project is a 12-story building containing 94 residential units. The unit mix includes 33 one-bedroom units, 36 two-bedroom units, and 25 three-bedroom units. Neighborhood amenities include the adjacent Broadway Armory Park and close proximity to the CTA Thorndale Redline Station.

Timeline
The Department of Planning and Development has requested the Negotiated Sale Application be submitted prior to the end of the year. Pending negotiations, we anticipate that this project would be submitted in a future round of funding for tax credit financing.

Download information here.