Business Community Meeting: 3950 N Damen and 3959 N Lincoln Proposed Developments
On Thursday, March 2nd at 3 PM, business owners and managers in North Center are invited to join Alderman Martin, the Northcenter Chamber of Commerce, and the development team to discuss the development proposal. Alderman Martin is looking to gather feedback from the neighborhood’s business community.
This meeting will be hybrid, with participants having the option to join in person or over Zoom
Application Summary: Ravine Park Partners are seeking a zoning change to redevelop the two Fifth Third Bank properties at the intersection of Lincoln, Damen, and Irving Park. They propose rehabbing the existing bank building on Lincoln to contain ground floor commercial space and apartments above, and constructing a new mixed-use building on the current bank parking lot. View a detailed summary of the proposal, including renderings, at aldermanmartin.com/3950damen.
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3950 N Damen and 3959 N Lincoln Proposed Developments:
As most of you are aware, a development proposal has been submitted for the 5/3 Bank properties located at the corners of Irving, Lincoln and Damen, a major focal intersection in our community. Alderman Martin’s office is evaluating the project and weighing community input. We believe this development is critical for the revitalization of our business community and your help is needed to secure approval of the project.
The developer’s proposal would convert the existing vintage bank building at the southeast corner of Irving and Lincoln into approximately 120 rental apartments, with retail on the first floor. And it would replace the surface parking lot and 5/3 drive-through building on the southwest corner of Irving and Damen with two new buildings, with a total of approximately 186 apartments. 5/3 would move all of its operations into a retail outlet at the northwestern corner of the first floor of the new building. The development will include 20% affordable units, on site. The units presently are anticipated to include 72 studios, 148 one bedrooms, and 86 two and three bedrooms. Though a transit-oriented development, it will still include approximately 95 parking spaces. The developer has committed to: working to attract economic diversity to the neighborhood, making a $100,000 capital commitment to Bell School, attracting families with school-aged children to both Bell and Coonley Schools, and donating a brick inlaid Northcenter marker at that intersection.
Based on the unanimous recommendation of our Neighborhood Assets Committee, the Chamber has voted to support this development. We believe that the infusion of new residents which it would bring to our community is critical for the growth and success of our businesses. It will usher in a transit-oriented group of residents and sorely needed vibrancy to Northcenter. We encourage you, our fellow business owners and Chamber members, to add your voice to that of ours and others who have already contacted the Alderman to urge him to approve the proposal for the long-term benefit of our business community and of the neighborhood as a whole. Here is a link from Alderman Martin's office to provide feedback: aldermanmartin.com/3950damen
Date and Time
Thursday Mar 2, 2023
3:00 PM - 4:30 PM CST
Link to provide feedbackhttps://www.aldermanmartin.com/3950damen
Location
