Covent Apartments has upped the affordable housing landscape in Lincoln Park.
Today I will discuss the Covent Apartments. It is a $21-million redevelopment led by nonprofit NHP Foundation. Lincoln Park's historic single-room occupancy (SRO) residential hotel, the Covent Hotel, was refurbished and turned into a mixed-income community with both market-rate and affordable housing. It opened on November 16, 2023.
The developer funded the $21.6 million project with $7.9 million in federal Low Income Housing Tax Credits and Historic Tax Credits, $5 million from City Home and Affordable Housing Opportunity Funds, $3.1 million from IHDA Permanent Supportive Housing Funds, and a $4.9 million HUD/FHA 220 loan. Additionally, the project received a $698,910 Affordable Housing Program grant from FHLBank Chicago.
Before we discuss the Covent Apartments, let’s first go back in time and take a look at the Covent Hotel.
History of Covent Hotel
The Covent Hotel, built in 1915, is a historic residential hotel located at 2653-65 N. Clark Street in Chicago's Lincoln Park neighborhood. It was constructed to house the city's growing single working-class population, offering single rooms with few amenities, typical of rooming hotels of that era.
Originally, the Covent Hotel opened alongside the Covent Garden Theatre, which had a 2,684-seat capacity when it debuted in June 1916. The theatre was one of the largest in Chicago's Lakeview neighborhood, featuring theater productions, vaudeville, and movies. It was purchased by the Balaban & Katz organization in 1932 and renamed Covent Theatre.
The Covent Hotel primarily catered to transient tenants, including single men working various blue-collar jobs. By the late 1950s, it exclusively rented rooms to men. The ground-level storefronts housed commercial tenants, and a theater operated alongside the hotel, although the theater struggled with poor attendance and technical issues.
In 1934, the Covent Theatre was refurbished by the building business Pereira & Pereira. Despite the upgrades, the theatre went through numerous ownership changes and was eventually demolished in 1962. Only the auditorium was destroyed, which was replaced by a parking lot.
The Covent Hotel has been recognized by the Theater Historical Society of America. In 2017, the building was added to the National Register of Historic Places, preserving its historical significance and acknowledging its architectural and cultural contributions to Chicago.
Now here’s everything you can find in the Covent Apartments.
Covent Apartments
100% affordable housing
The redevelopment of The Covent Apartments focuses on creating 100% affordable housing units, transforming the previous Single Room Occupancy (SRO) units into modern studio apartments. The NHP Foundation converted 64 SRO units into 30 affordable studio apartments, each equipped with a kitchen and bathroom, designed by Weese Langley Weese Architects.
All 30 units at The Covent Apartments are designated as permanent supportive housing for individuals earning between 30% and 50% of the Area Median Income (AMI). Six of these units are specifically reserved for the State Referral Network, and all units benefit from Project-Based Vouchers provided by the Chicago Housing Authority (CHA).
Before the redevelopment, the hotel housed about 20 tenants, who are the first to return to the renovated studio units. These units are restricted to tenants at or below 30% and 50% of the area median income. This conversion from SRO to contemporary studio apartments ensures that the Covent remains an affordable housing option for Lincoln Park residents.
Modern Amenities
The building offers a range of communal amenities, including on-site management, security systems, a new elevator, and a shared laundry room. Residents can also enjoy a community room/lounge and an outdoor patio area.
Despite the absence of parking spaces, the updated lobby with a mail area and the communal facilities provide residents with essential services and comfortable shared spaces.
Commercial Space
The property features four larger retail spaces on the first floor, created from the renovation of the hotel's original eight commercial spaces. These 4,700 square feet of retail spaces enhances the mixed-use aspect of the redevelopment, providing convenient amenities for residents and the surrounding community.
Additionally, the first floor includes a residential lobby with a new elevator, improving accessibility and further integrating the retail and residential components of the building. An 18,700 square foot parking lot is leased to the neighboring US Postal Service.
New construction
In addition to the Covent Apartments, the parking lot behind the Covent Hotel will be developed into a new seven-story residential building. Designed by Drummond Development and Brininstool + Lynch, this new construction will feature 84 market-rate units, including 12 studios, 30 one-bedroom, 24 one-bedroom plus den, and 18 two-bedroom apartments.
The new building will rise 80 feet, with brick cladding and an aluminum window system. The ground floor will include a residential lobby, amenity space fronting W. Drummond Place, 84 bike parking spaces, and 52 interior parking spaces.
To meet the city’s Affordable Requirements Ordinance, the developers will provide only two affordable housing units within the new building. Additionally, they will pay the city $794,000 to fund the renovation of the historic Covent building, ensuring the preservation and improvement of affordable housing in the area.
Construction of the new building began in December 2023 with the installation of deep foundations. The project is expected to be completed within 18 months, bringing new housing options to the market by mid-2025.
Positive Impact on the Community
The Covent Apartments project brings significant positive impacts to the Lincoln Park community by addressing the critical need for affordable housing in an area known for high rental costs. This redevelopment provides crucial housing options for low-income residents, helping to prevent homelessness and ensure that even those with limited financial means can find stable and secure housing. By maintaining and upgrading the Covent Apartments as affordable units, the project supports the city's broader goals of creating and preserving diverse and inclusive communities, where people from all economic backgrounds can thrive.
In addition to directly benefiting residents, the Covent Apartments project aligns with the city's SRO Preservation Ordinance, which seeks to protect Single Room Occupancy (SRO) units from being converted into market-rate housing. This ordinance is vital in maintaining affordable housing stock within the city, particularly in neighborhoods like Lincoln Park where gentrification pressures can lead to the displacement of lower-income residents. The preservation of the Covent Apartments ensures that affordable housing remains available in a desirable neighborhood, providing stability for current residents and opportunities for future low-income tenants.
The redevelopment of the Covent Apartments also positively impacts the community by enhancing the neighborhood's aesthetic and functional appeal. The building's renovation, including the addition of modern amenities and updated communal spaces, not only improves the quality of life for its residents but also contributes to the overall attractiveness and vitality of the area. The inclusion of retail spaces on the ground floor further integrates the building into the neighborhood, providing convenient services and fostering a sense of community among residents and local businesses.
Moreover, the Covent Apartments project serves as a model for how historic preservation and modern development can coexist to benefit communities. By respecting the building's historical significance while updating its facilities to meet contemporary needs, the project demonstrates a commitment to preserving the architectural and cultural heritage of Lincoln Park. This approach not only safeguards the neighborhood's character but also sets a precedent for future developments, showing that it is possible to balance progress with preservation in ways that serve all community members.
Conclusion
The Covent Apartments redevelopment stands as a testament to the importance of preserving affordable housing in urban areas while also embracing modernity and community needs. By transforming a historic building into a contemporary residence with essential amenities, the project ensures that low-income residents have access to quality housing in the high-demand Lincoln Park neighborhood. The alignment with the city's SRO Preservation Ordinance underscores a commitment to maintaining diverse, inclusive communities and preventing the displacement of vulnerable populations.
Moreover, the Covent Apartments project highlights the successful integration of historical preservation with new construction. The careful renovation of the building, alongside the development of additional residential units, not only preserves the architectural heritage of Lincoln Park but also addresses current housing shortages. This balanced approach serves as a model for future urban development, proving that cities can grow and evolve while still honoring their past and providing for all their residents. The Covent Apartments are more than just a housing project; they are a symbol of sustainable and inclusive community development.
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