The Mark Twain
Mark Twain Hotel
Type
Affordable Housing
Retail/Commercial
Mixed-Use
Location
Chicago, Illinois
Built
1930
Developer
Project Partners
PROJECT OVERVIEW
The Mark Twain Hotel was built in 1930 as a single-room occupancy (SRO) residential hotel, and it continues to function as one today. In fact, its SRO identity is one of the key reasons this restoration came to fruition. The NHP Foundation (NHPF) was one of the first developers to utilize Chicago’s SRO and Residential Hotel Preservation Ordinance of 2014. The ordinance was put in place by the city to encourage developers to restore affordable housing properties and maintain affordable housing programming. Other contributing factors of this project’s success include low-income housing tax credits and federal historic tax credits (the property was listed on the National Register in 2017). Ryan’s Historic Tax Credits team consulted on the $4.9 million in federal historic tax credits utilized for the building’s rehabilitation.
As a mixed-use property with 148 income-restricted studio apartments and seven ground-floor retail stores, the restored property addresses the need for diversity in housing opportunities in one of Chicago’s most highly sought-after areas. The property specifically aims to serve individuals on the verge of homelessness. The building’s seven ground-floor retail stores also offer more diversity in food and beverage options in an area that had previously been known as a “food desert” in terms of affordable food and beverage options.
AWARDS
- AIA Chicago | 2020 Design Excellence Award - Distinguished Building Award
- Landmarks Illinois | 2020 Richard H. Driehaus Foundation Preservation Award for Rehabilitation
- Multi-Housing News | 2020 Excellence Awards - Gold for Best Green Initiative & Silver for Best Transaction
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Headquarters
1400 16th Street NW Suite 420 Washington, DC 20036
(202) 483-2020
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