New Affordable Developments for Downtown Urbana

Proposed Urbana Arts locationThe City of Urbana is working with Northbrook-based Brinshore Development to bring an arts-centered, affordable housing development to Downtown Urbana.

The Urbana Arts project is proposed for the city-owned parking lots 24 and 24 West, located south of Lincoln Square across East Illinois Street. The project would result in an arts-centered apartment building with six artist live-work units on the ground floor and an arts and cultural center to be operated by the city’s Arts & Culture program. The project would also see the inclusion of nine, single-family tiny homes on the site.

Mayor Diane Marlin noted that Urbana Arts will provide additional options for Downtown living and activities.

“This innovative project helps meet our goals of providing downtown housing options for a range of income levels, indoor and outdoor performance venues, support for the arts and artists, and the first tiny home neighborhood in our community,” said Marlin. “Every new project like this enhances the vibrancy of our downtown, builds our tax base, and activates the Lincoln Square area. We are excited to partner with Brinshore.”

Brinshore previously developed Crystal View Townhomes in 2012 and Highland Green in 2016, both located in North Urbana. The company has also has experience developing arts-centered affordable housing in the Chicago market.

“We have enjoyed working with Urbana in the past to provide the community with affordable options, and we look forward to developing a new type of housing with this downtown arts-based project,” said Richard Sciortino founding principal and director of acquisition, development, and construction at Brinshore.

Brinshore plans to apply for Low Income Tax Credits with the Illinois Housing Development Authority for both the 44-unit Urbana Arts project and the 32-unit Urbana Townhomes project planned for the Lierman Avenue Neighborhood in East Urbana. If successful in that application, construction would begin on both projects in 2020.

The City of Urbana is also working with developer Green Street Realty on the 200 Vine project which would establish 42 market-rate townhomes on the vacant 200 block of South Vine Street, east of Lincoln Square across Vine Street.

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Created on: Thursday, December 20, 2018 - 10:46
- Author: BridgetB