Garfield Green Would Bring 43 Affordable, Sustainable Apartments to East Garfield Park
A 43-unit affordable apartment complex designed for sustainable living would be developed in East Garfield Park through financial measures introduced today to City Council by Mayor Lori E. Lightfoot.
Planned by Preservation of Affordable Housing, the $37.7 million first phase of Garfield Green at 3155 W. Fifth Ave. would include a mix of one- to three-bedroom units with 4,500-square-feet of ground-floor commercial space. All the units would be made affordable to tenants earning up to 80% of area median income.
Amenities would include a terrace, roof top gardening boxes, and exercise and community rooms.
The three-story building’s sustainable elements would include solar panels, a green roof, modular construction, energy-efficient heating and cooling systems, watersaving plumbing fixtures, and onsite stormwater retention.
City financial assistance would include $20 million in bond funds, $1.7 million in Low Income Housing Tax Credits, $6.5 million in Tax Increment Financing (TIF), a $12.7 million loan, $861,000 energy grant, $702,000 write-down of City-owned land, and $343,000 in donation tax credit equity.
A second phase would include a proposed homeownership development.
Garfield Green was selected in 2019 as a winner of the C40 Reinventing Cities competition, a global contest focused on promoting sustainable urban planning that helps to mitigate the effects of climate change.