In addition, the Capital Campaign supported by nearly 25 ICA colleagues and individuals raised more than $300,000. The remaining funds are being secured from federal tax credit programs and private equity providers. Negotiations are underway for closing Phase I of the project by October 2018.
The Historic Restoration Project is building on previous innovations, most notably the installation of the solar panels on the roof. Chicago Mayor Rahm Emanuel wrote to “congratulate the entire team at ICA GreenRise… for reaching your 20% energy reduction goal… Energy efficiency is a priority for my administration and ICA GreenRise Uptown Learning Laboratory has set a tremendous example for other nonprofit / mixed use buildings.”
The first phase of the project, set to begin this fall, includes constructing an interior atrium—a neighborhood street—that will provide more natural light for tenants and conference rooms. An innovative, energy-efficient HVAC system will be installed with new hot water boilers, a dedicated outdoor air system, radiant panels, chillers, plumbing, and electrical systems. This whole-building approach will maximize comfort while minimizing energy use.
Such improvements have made the building more attractive to prospective tenants, and ICA is in conversations with Asian Human Services, a non-profit organization and Uptown neighbor, to be a tenant for the first and second floor space. In the January–February 2018 issue of retrofit magazine, “Aiming for Zero”, ICA GreenRise is featured alongside a new building being built in Washington, DC. The writer notes that “for both buildings, the journey to net zero is ongoing. There will be bumps along the way, but both projects provide an important example. The successes and failures of the strategies employed on these buildings will help give a blueprint to future owners and designers striving for net zero.”
ICA is grateful to all the staff, board members and colleagues that have dedicated so much time and effort to this very important project.
As was noted by Irv Henderson, ICA’s development consultant on a recent Advisory Team meeting, “When hard work meets great need is when we are at our best; and when, hopefully, we get a little luck, many blessings will come as well.”