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.
A zoning application has been submitted for the elderly residential development at 5300 S Calumet Avenue in Washington Park. The unique proposal will rise on the corner with E 53rd Street and replace a long term vacant lot near the park. The project is being led by The Renaissance Collaborative (TRC) and Housing Opportunities & Maintenance for the Elderly (HOME).
Additional financing has been approved for the affordable housing development at 2136 S Ashland Avenue in the Lower West Side. Set to replace a vacant lot across the street from Benito Juarez High School, the project has received approval from the Community Development Commission for $23 million in TIF funds. Developer The Resurrection Project is behind the project dubbed Casa Yucatan.
The Chicago Plan Commission has approved the initial phase of the Legends South development at 4520 S State Street in Grand Boulevard. Located on the southwest corner of the intersection with W 45th Street, the project received initial approval for its TIF funding earlier this summer which YIMBY covered here.
Additional funding has been announced for the residential phase of the LeClaire Courts redevelopment at 4458 S Cicero Avenue in Garfield Ridge. Earlier this month we covered the project’s initial financing deal of $5.5 million in TIF, it has now received a large capital loan from the Chicago Housing Authority (CHA).
