Cornerstone and Watermark Equity Group have broken ground on new residential and commercial development on Howard St.
The project, the Howard Rogers Lofts, is located at 1531 W. Howard, south side of Howard at Bosworth. The site was home to a paved vacant lot and two vacant buildings that once housed a tire shop and a Chinese restaurant. The vacant buildings were demolished late last year to make way for the development.
The development will contain 38 rental units and outdoor parking for 21 cars. The first floor will contain 2,900 sq. ft. of retail commercial space, bike parking, and storage. The second through fifth floors will contain dwelling units, with a community room and fitness area on the second floor. The building also will contain a roof-top deck with views of the lake and downtown Chicago.
The developers estimate that the project would take about 12 months to construct with occupancy scheduled for the summer of 2019.