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.
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.
The property will offer an outdoor sky terrace on the fourth floor and a 18,000ft2 street-level retail space.
Ryan 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)
