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Lake Street Studio wins 2016 ULI Chicago Vision Award

June 2, 2016

Lake Street Studio wins 2016 ULI Chicago Vision Award

Harley Ellis Devereaux (HED) is pleased to announce its project — Lake Street Studios — has been selected by the Chicago chapter of the Urban Land Institute to receive a 2016 Vision Award in the Workforce Housing category.

The Vision Awards recognize and honor projects and programs in the Chicago region that embody creative development practices, inventive partnerships, imaginative problem solving and visionary ideas.

Diversity in housing options is vital to sustainable communities.  As rental prices in downtown Chicago continue to escalate, the need for affordable workforce housing options has never been greater.  In the case of Lake Street Studios, affordability in a rapidly developing area of the city, just within the downtown core, is critical to the future vibrancy of the area. 

Targeting the low-income workforce in downtown Chicago, Lake Street Studios encompasses 61 Single Room Occupancy (SRO) units and provides an affordable, live-near-work option for the individuals that support the very services that make the city thrive.  Reflecting today’s trend towards car-free living, the site is conveniently located between two mass transit stops, a block away from major bus lines, and steps away from downtown Chicago. 

In addition to the units, the building provides several communal spaces for residents. The 10th floor contains a small reading/library room overlooking a 2,200-square-foot habitable vegetative roof terrace with unobstructed views of the downtown skyline.  A multi-purpose community room on the second floor can be utilized by residents to host social gatherings.

Lake Street Studios incorporates cost-effective sustainable design strategies and is certified via the Enterprise Green Communities Criteria. 

The development is located on a prominent, though challenging site which required creativity in planning, design and construction to achieve a successful result.

Lake Street Studios has achieved the results that affordable housing advocates, lenders and the public are hoping for when investing in affordable housing: access to jobs leads to permanency of residency and stability for the community.

HED was the Architect and Structural Engineer, Linn-Mathes, Inc. was the General Contractor and Interfaith Housing Development Corporation is the developer and long-term guarantor of the building.

See all of the 2016 Vision Award winners at http://chicago.uli.org/events/vision-awards/vision-awards-winners/.