October 31, 2018

Veterans Housing Among Four Affordable Projects Approved For Near West, South Sides

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More than 300 units of affordable housing will be built on the Near West and South sides through financial plans approved today by City Council.

Roosevelt Road Veterans Housing, 2900 block of West Roosevelt Road
The $16.9 million Roosevelt Road Veterans Housing, proposed for a 0.62-acre site on the northwest corner of Francisco Avenue and Roosevelt Road in North Lawndale, will include a mix of studios and one-bedroom apartments for homeless and disabled veterans earning up 60 percent of area median income. To be developed by a Safe Haven Foundation, the 90-unit, five-story building will include a common kitchen, laundry room, garden, and on-site parking, job training, substance abuse treatment and mental health counseling. City support will include the sale of seven parcels of City-owned land for $1 each and $346,000 in donations tax credit equity. CHA will provide rental assistance for 75 of the units.

4400 Grove, 4424-34 S. Cottage Grove Ave.
The $37 million first phase of 4400 Grove will be constructed on the southwest corner of 44th Street and Cottage Grove Avenue in Grand Boulevard by Brinshore Development and Michaels Development Co. Featuring 84 units in a pair of four-story buildings with ground floor commercial spaces, the project will rise on the site of the former Washington Park Homes public housing complex. Twenty-one of the units will be reserved for Chicago Housing Authority (CHA) residents, 34 units will be affordable at 60 percent of area median income (AMI) and the remaining 29 units will be offered at market rates. City support will include $7.2 million in Tax Increment Financing, $1.9 million in Low Income Housing Tax Credits that will generate $17.8 million in equity, and $783,000 in donations tax credit equity. Amenities will include computer and community rooms, a public plaza, park space and on-site parking.

Johnson and Butler-Lindon Apts., 6230 S. Dorchester Ave. & 6146 S. Kenwood Ave.
The $26 million rehabilitation of Woodlawn’s Johnson and Butler-Lindon apartment buildings will provide 106 affordable units for residents at risk of homelessness. The JBL Preservation Associates LP project will include new kitchens and bathrooms, plumbing and electrical fixtures, new windows and roofs, and masonry repairs. All of the units will be affordable at up to 60 percent of AMI. Up to 84 units will receive rental assistance from the CHA or Illinois Housing Development Authority (IHDA). City assistance will include a new $6 million loan and the assumption of an existing $5.7 million loan. The developer purchased the two properties from the Woodlawn East Community and Neighbors (WECAN) organization in 2017.

Warren Apartments, 1527 W. Warren Blvd. and 1548 W. Madison St.
The $28.2 million Warren Apartments will be constructed on the Near West Side by Warren Ashland LP. The project will include adjacent, seven- and three-story buildings consisting of 75 units, 60 of which will be made available for tenants earning up to 60 percent AMI. The remainder will be made available at market rates. City assistance will include a $4.3 million multi-family loan and the sale of seven vacant lots collectively valued at $2.8 million for $1 each.

 

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