47th Street and Cottage Grove Avenue

Opened in October 2014, the $46 million Shops & Lofts at 47 mixed-use project in Grand Boulevard includes 55,000-square-foot of retail space and 96 units of rental, mixed-income housing in five separate buildings. The retail portion iwas developed by Skilken and Troy Enterprises and the residential portion was developed by The Community Builders Inc.

DPD Assistance:

•  $20 million bond issue

•  $13 million TIF

•  $12.1 million tax credit equity

•  $550,000 loan

•  Land write-down

•  Planned Development (PD) approval