Another pivotal collaboration in the books! In partnership with Shapack Partners, our Clayco team looks forward to working with CRG, Ventana, SOM as the architect-of-record, and Bill Williams, founder and principal of KMW Communities, on the residential project at 220 N. Ada in Chicago.
We are channeling our integrated approach into creating the 29-story, mixed-use tower, which will offer 308 apartments (with 62 affordable units) and 12,000+ square feet of ground-floor retail. This collaboration with affordable housing developer Bill Williams is also an extension of CRG’s PILLAR program and our overall goals to address the lack of diversity in the real estate community.
The development is the epitome of innovation in various ways. The property features a façade consisting of dark grey metal projections with expansive floor-to-floor windows throughout. Its advanced design and excellent amenities will attract a variety of residents, providing them with a sense of community in a lively and connective environment. 220 Ada is built with sustainability in mind and will exceed local energy codes, reduce water use, include EV charging stations, and dedicate significant space for green roofs and working landscapes.
What a huge deal for Chicago! 220 Ada will foster pride and enrich the quality of life for residents within a vibrant and flourishing neighborhood. Fulton Market is a booming district, and its population is expected to grow another 15% this year. 220 Ada is a crucial factor in meeting the increasing demand for multifamily residences!
Securing a loan in this market is HARD, and that’s why I am extremely proud of the teams at Shapack Partners and CRG for securing an $84 million construction loan. Great work to Jeff Shapack, Shawn Clark, and everyone else who helped bring this project to life!
Demolition is scheduled for February, with plans to put shovels in the dirt in March. I’m excited for our outstanding collaboration to become a driving force for the area's expansion and beyond!
Read more here.
