Affordable Housing

Financing Approved For Mixed-Use Project at 3601 W Chicago

7:45 am on April 19, 2024 By Cooper Billingsley

The Chicago City Council has sanctioned a $25 million bond for The Ave, a multi-family housing project. The Ave, which won the Chicago Ave Invest South/West RFP site in late 2021, will be situated at 3601 W. Chicago, replacing the existing Neighborhood Housing Services office and a city-owned commercial building. The project, led by KMW Communities, POAH, and CEC, will be a four-story structure housing 52 affordable apartments, a Neighborhood Housing Services space, an innovation center, 16,000 square feet of retail space, and a ground-floor parking area for 32 vehicles.

City Council Grants Funding For Ogden Washtenaw A2

7:45 am on April 17, 2024 By Cooper Billingsley

Chicago City Council has granted $9 million in TIF funcding for Ogden Washtenaw A2, a segment of the Ogden Commons development located at 1312 S. Talman. This joint venture involves The Habitat Company, Lawndale Real Estate, and Sinai Health System. The development will comprise a 4-story building housing 75 mixed-income units, ranging from studios to three-bedroom apartments.

Mayor Johnson Proposes $1.25B Plan for Development and Housing

7:45 am on April 12, 2024 By Cooper Billingsley

Mayor Brandon Johnson introduced a revised $1.25 billion plan on Thursday, aimed at bolstering affordable housing and economic development in Chicago. Notable for its departure from reliance on TIF districts, the proposal allocates $250 million…

Developers Being Reviewed For 135 S LaSalle Street Renovation

7:30 am on April 9, 2024 By Cooper Billingsley

Riverside investment and development and AmTrust RE have been selected to be reviewed as developers for the renovation of 135 S LaSalle Street. These developers are partnering in an office-to-residential project as part of the expansive LaSalle St Reimagined initiative.

Aurora Affordable Housing Subdivision Closes Applications After 3 Days

7:30 am on April 8, 2024 By Cooper Billingsley

Due to high application numbers, Aurora’s new affordable housing development, 1449 Senior Estates, closed applications. Despite initially planning a 30-day application period, the city received an overwhelming response, forcing them to close applications after just three days as reported by ABC Chicago.

LaSalle Street Office Conversion Plans Advance for Four Developments

7:45 am on April 5, 2024 By Cooper Billingsley

On Wednesday, April 3rd, Mayor Brandon Johnson announced the selection of four developments for the LaSalle Street Reimagined initiative. These projects aim to rejuvenate the area by brining residents into the corridor after pandemic vacancies, utilizing $151.2 million in tax-increment financing funds. The office-to-residential developments will repurpose underused office buildings and adding over 1,000 new residential units, including at least 319 affordable units. Pending approval by the City Council, completion is slated for 2027 as reported by WTTW News.

Lawson House Renovation Completed In Near North Side

7:30 am on April 3, 2024 By Ian Achong

Work has officially been completed at the historic Victor F. Lawson House at 30 W Chicago Avenue in the Near North Side. Located on the northeast corner with N Dearborn Street across the street from the massive One Chicago development, the renovation took the 10th place in our 2023 year-end countdown. The work was led by developer Holsten Real Estate with local design firm Farr Associates.

Partial Funding Announced For 5853 N Broadway In Edgewater

7:30 am on March 24, 2024 By Ian Achong

Partial funding has been announced for the residential development at 5853 N Broadway in Edgewater. Sitting near the intersection with W Thorndale Avenue and adjacent to the Broadway Armory Community Center, the building will replace a one-story building and its parking lot. The project is being led by Bickerdike Redevelopment Corporation with LBBA Architects working on its design.

Partial Funding Announced For Redevelopment At 3150 N Racine Avenue

7:30 am on March 22, 2024 By Ian Achong

Partial funding has been announced for the affordable development at 3150 N Racine Avenue in Lakeview. Sitting on the corner with W Belmont Avenue, the project was approved by the city back in 2022. The proposal is being led by Mercy Housing and expands the existing SRO with a design developed by LBBA Architects.

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