Proposed Redevelopment of the Covent Hotel & Rear Parking Lot, located at 2653 North Clark Street
The Covent Hotel is a 3-story historic hotel built in 1906 that continues to operate as a Single Room Occupancy (SRO) hotel under the ownership of The NHP Foundation (“NHPF”) since 2016. The proposed rehabilitation project will be supported by Tax Exempt Bonds, Low Income Housing Tax Credits, Federal and State Historic Tax Credits, among others. It will bring renovated handicap accessible apartments with private bathrooms and kitchen, new community spaces, and amenities for current and future residents.
Besides the redevelopment of the existing structure into a total of 30 units of affordable, accessible housing, and over 4,900 sq.ft. of renovated ground level retail, the plan calls for the construction of a new building on the rear parking lot. The proposed new structure would be 7-stories tall with 84 market-rate units and 52 parking spaces.
The site currently has a B1-2 zoning designation and in order to allow for its redevelopment, a zoning map amendment must be approved to create a Transit Oriented Planned Development (PD), with an underlying zoning of B1-5.
Click the link here to see the Community Meeting Presentation that was shown on 10/02/2019.