The Chicago City Council has approved the acquisition of various vacant city lots in Pilsen for the creation of affordable housing. The lots are located at the intersection of S Peoria Street and W 18th Street and represent the largest developable property in the neighborhood and future construction would continue the vibrant street wall along 18th Street. The $12 million purchase of the 6.3 acres by the city brings the tally of money spent towards affordable housing up to $1 billion, a major investment in many changing communities.
The Chicago City Council has approved the redevelopment and land-use agreement for The Covent Hotel mixed-use renovation at 2653 N Clark Street in Lincoln Park. Located on the corner with W Drummond Place just a few blocks from the lake, the proposal would reconvert the Single Room Occupancy (SRO) property into affordable studios led by the National Historic Preservation (NHP) Foundation. The approval would also allow for city funds to be distributed to NHP to fulfill the conversion that has been in the works since 2019.
New details have been revealed on the sale and renovation of an affordable housing project at 6430 S Stony Island Drive in Woodlawn. Located just north of the intersection with E 65th Street, the 1969-built structure was recently purchased by the Preservation Of Affordable Housing (POAH) for over $29 million from PNC Bank who has owned the property since 2015. The renovation gives residents a sigh of relief as the area directly across the street from the future Obama Presidential Center grapples with rising cost.
The Community Development Commission has approved the land sale and Tax Increment Financing (TIF) funds for the affordable mixed-use development at 201 S Kedzie Avenue in East Garfield Park. Going by the name ‘Garfield Green’, the two-site project located on the intersection with S Fifth Avenue recently received approval from both the plan commission and city council. Developer Preservation of Affordable Housing won the C40 Reinventing Cities competition in 2018 with structures designed by Perkins + Will and Nia Architects
The Community Development Commission has approved Tax Increment Financing (TIF) funds for a new residential development at 1805 N Hamlin Avenue in Logan Square. Dubbed ‘Encuentro Square’ or meet-up square, is being developed by the Latin United Community Housing Association (LUCHA) with Canopy Architecture and Site Design Group serving as the designers for the multi-building project that was announced last year.