Economic reality check for a transit-oriented development plan on the northwest side of Chicago
- Wide-ranging market analysis covering residential, retail, and office uses
- Reviewed Regional Transportation Authority and the City of Chicago’s plans for the TOD area
Requirement
The Jefferson Park Transit Center is one of the most used “L” and commuter rail stations in the Chicago metro area. Working with Teska Associates, Inc, our task was to conduct a market analysis to incorporate into the Regional Transportation Authority’s and the City of Chicago’s plans for a development and redevelopment close to the transit center, as well as other activities aimed at serving transit riders and neighborhood residents.
Approach
We analyzed the market for retail, office, and different types of housing in the overall neighborhood and for specific vacant sites and buildings.
Results
Our analysis provided the economic reality check for the plan and informed the public about what could realistically be supported given area demographics, site constraints, density, and parking. The plan was supported by the local alderman, project steering committee, Regional Transportation Authority, and the Chicago Department of Planning and Development.