New Ordinance Would Create New 51-Unit Multifamily Development at Oakwood Shores in the Douglas and Oakland Communities
A new 51-unit multifamily development with 34 affordable units would be constructed through the approval of an ordinance introduced to City Council today by Mayor Lori E. Lightfoot. The new construction development, Oakwood Shores, formerly the Madden Wells public housing development, would include 34 affordable units for households earning 60% of the area median income (AMI) or below. Seventy-five percent of the units will be either two or three bedrooms providing 39 new family-sized units for households at 30% of AMI and potentially 15% AMI. The Chicago Housing Authority (CHA) would subsidize 19 of the affordable units and continue the City/CHA’s efforts to redevelop the former Madden Wells public housing development.
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