New 51-Unit Multi-Family Development Coming to Oakwood Shores in the Douglas and Oakland Communities
A new 51-unit multi-family development, 34 of which will be reserved affordable, will be constructed in the Douglas and Oakland Communities through an ordinance passed by City Council today. The new construction development, Oakwood Shores, formerly the Madden Wells public housing development, will 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) will 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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