Ryan Companies, along with LCS and Harrison Street, has announced closing of finance and commencement of construction of Clarendale Six Corners, a senior living community in Chicago, the US.
Clarendale Six Corners will be located at the corner of Irving Park Road and Milwaukee Avenue.
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It will be spread across 1.25 acres of land in a four-acre land parcel, called as The Point at Six Corners.
Clarendale Six Corners will be a 10-story, $117m mixed-use retail and senior living project with 258 residential units.
The residential units will comprise independent living, assisted living and memory care units along with 11 affordable independent living units.
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The property will offer an outdoor sky terrace on the fourth floor and a 18,000ft2 street-level retail space.
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By GlobalDataRyan Companies senior vice president of development Dan Walsh said: “This was a long time coming, and we’re ready to be an important anchor in the redevelopment of this prominent intersection.
“This property will give our residents and employees access to a wide range of amenities right outside their doorstep, all while helping the Six Corners shopping district continue its resurgence as a critical destination for the northwest neighborhoods and powerful engine for the local economy.”
Designed by Ryan A+E, Clarendale Six Corners will feature restaurants, bistro and bar options, private dining for events, a theatre, etc.
Clarendale Six Corners will provide access to public areas that include a plaza with benches and bike racks, a pedestrian plaza with shade trees, additional bike racks, outdoor seating and a custom art display.
The project is expected to create approximately 650 union construction jobs and 200 permanent jobs over a period of 20 years, and is expected to generate $40m in property taxes.
The total economic impact from the project is expected to be over $730m.
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Clarendale Six Corners will be spread across 1.25 acres of land. (Credit: Ryan Companies US)
