NORTH TOWN VILLAGE
Recipient of the
Outstanding For-Profit Real Estate Project Award
Awarded to Holsten Real Estate Development on February 3rd, 2004
| “Hailed as an innovative and
visionary mixed-income community that dramatically advances the CHA’s
10-year, $1.6 billion "Plan for Transformation,” North Town Village-
developed by Holsten Real Estate Development Corporation and Kenard
Corporation- is helping to turn the area occupied by partially dismantled,
blighted Cabrini-Green public housing complex on the city’s Near North
Side into a neighborhood of choice for people from all walks of life.
"A prototype for the CHA’s plan to replace its high-rise buildings with mixed-income neighborhoods, the 261-unit complex on North Halsted Street offers both rental and for-sale residences, with 30% of the homes reserved for public-housing families, 20% for low-income working families and 50% for market-rate renters or buyers. |
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"The developers’ measures of success were informed through
a close dialogue with local residents, especially residents of Cabrini-Green.
Importantly, in addition to emphasizing architectural detailing that integrates
the development into the neighborhood, North Town provides full-time jobs for
CHA residents and sponsors monthly on-site social events and a residents’
association to promote interaction among new neighbors.
"North Town Village has already won numerous accolades, including a 2001 Illinois Tomorrow Award for promoting “balanced growth for a better quality of life.” Recognizing the project’s significance as a new way to foster a racially and economically integrated community, it is therefore also a fitting tribute to recognize North Town Village as this year’s Outstanding For-Profit Neighborhood Real Estate Project.” -10th Annual Chicago Neighborhood Development Awards February 3, 2004 |
