Mayor Rahm Emanuel today joined Chicago Housing Authority (CHA) CEO Eugene Jones, Ald. Walter Burnett Jr. (27th) and preservation advocates to open the renovated and restored Carling Hotel. The $27 million project brings 80 units of single-room occupancy (SRO) affordable housing to Chicago’s Near North Side.
“The restoration and transformation of the Carling Hotel is the next step, not the last step, towards our mission of ensuring every Chicagoan has affordable, accessible housing options to choose from in every community," Mayor Emanuel said. "This project honors the past of this historic Chicago location, while writing a new chapter for our city's future."
The rehabilitation and preservation of the Carling Hotel at 1512 N. LaSalle St. brings private bathroom and kitchenettes to each apartment as well as a restored vintage façade and lobby and updated building systems.
“Developments like the Carling highlight the range of our investment in housing and communities,” Jones said. “CHA will continue to pursue innovative programs like this one to fulfill our commitment to create opportunity and to transform the lives of our residents.”
As part of the Mayor’s SRO preservation initiative, the City acquired the four-story property from Carling Hotel LLC for $10 million and transferred it to Michaels Development Co. for $3.8 million for preservation as an SRO.
Eight units are reserved for CHA residents; 31 units are affordable for tenants earning up to 50 percent of area median income (AMI); 36 units are affordable for incomes up to 60 percent of AMI; and five units are affordable for incomes up to 80 percent of AMI. On-site amenities include laundry facilities, onsite property management and support services, including job and mental health counseling to enable residents to live as independently as possible.
Rental assistance will be provided by the CHA for 39 units and by the City's Chicago Low Income Housing Trust Fund for 26 units.