Additional funding has been approved for two affordable housing projects as part of the city’s new bond program. This bond program was approved back in April, now the proposals at 1801 S Wabash Avenue and 4531 W Washington Boulevard will be the first to be financed by it. This first round of approvals will be contributing $20.5 million between the two.
South Loop is poised for another step in its southward density push following City Council approval of a new two-building affordable residential development.
The Chicago Plan Commission has approved a new affordable housing development at 1801 S Wabash Avenue and 1800 S Michigan Avenue in the South Loop. The two-lot proposal spans the whole block of E 18th Street and is made up of one existing structure on Wabash Avenue, and a surface parking lot on Michigan Avenue. National non-profit Mercy Housing is working with Nia Architects working on the project which was updated earlier this year when it secured funding.
The Mayor’s office announced via press release a new affordable housing project located at 1801 S Wabash Avenue in the Near South Side at the corner of S Wabash Avenue and E 18th Street. According to the release, The Department of Housing has approved the $21 million bond for the new project which will reportedly consist of a gut rehab of a Single-Room Occupancy (SRO) building.