Sterling Bay and DL3 Realty are forming a partnership for a development project at 67th Street and Wentworth Avenue in Chicago’s Englewood neighborhood. The five-acre site will be Sterling Bay’s first development project on the South Side.
“We are incredibly excited to work with Leon Walker and his team at DL3,” said Sterling Bay CEO Andy Gloor. “DL3’s work on the South Side has been transformational and we look forward to working with them to create jobs and much-needed economic development in Englewood.”
Details of the project have yet to be released, but the impoverished neighborhood has seen a lot of investment and development over the past few years. Chicago’s Department of Fleet and Facility Management (2FM) recently broke ground on a new Englewood headquarters, which will bring 200 jobs to the city’s South Side. DL3 was part of the development team behind Englewood Square, a Whole Foods-anchored shopping center that opened in 2016.
“This partnership combines the institutional scale of Sterling Bay with the neighborhood revitalization skills of DL3,” said Leon Walker, managing partner of DL3 Realty. “Together, we can creatively pursue development options that will reinforce and expand the positive ripple effect made possible by the new 2FM facility and Englewood High School projects underway in the 6th Ward.”
“This project will help provide overdue economic development for our communities,” said 6th Ward Alderman Roderick Sawyer. “I look forward to continuing in my role as a fierce community advocate in the room with two top notch developers, Sterling Bay and DL3 as this project moves forward. I am committed to making sure that the development process is transparent, and that the final project serves the needs of our residents.”