The Chicago City Council has approved a $1.25 billion borrowing plan over five years. This is a win for Mayor Brandon Johnsons plan, aiming to increase affordable housing and good-paying jobs without raising property taxes.
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.
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 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…
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.
