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.
Department of Housing
To kick off the new year we will take a look at the proposals submitted for the city’s LaSalle Street Reimagined initiative in The Loop. Announced in fall 2022, the program looks to revitalize part of the once bustling financial center with rising vacancy rates as companies relocate to newer towers with modern amenities, leaving behind their historical structures. Led by the Department of Planning and Development along with the Department of Housing, applications were due on December 23rd for the area relatively bound by W Van Buren Street to the south, N Wells Street to the west, and N Clark Street to the east.
The City of Chicago has announced a new program which seeks to revitalize the aging LaSalle Street corridor in The Loop. Dubbed LaSalle Street Reimagined, the program launched this week with an Invitation For Proposals (IFP) by the Department of Planning and Development as well as the Department of Housing. The boundary of the area for projects will be W Washington Street to the north, W Van Buren Street to the south, N Wells street to the west, and mainly N Clark Street to the east, encompassing much of the once bustling financial district.
The City of Chicago and Mayor Lori Lightfoot have announced the 24 recipients of a nearly $1 billion investment in affordable housing, the largest in Chicago history. All together the selected developments will bring 2,428 residential units across 14 neighborhoods in collaboration with Chicago Department of Housing. The winning proposals come from a list of 51 applicants and consist of new construction, preservations, and rehabilitation work.
The Chicago Plan Commission has approved the updates to the Fulton Market Innovation District (FMID) plan. Implemented to guide the future growth of the neighborhood, the plan will govern the area bounded by W Hubbard Street to the north, W Randolph Street to the south, N Halsted Street to the east, and N Ogden Avenue to the west. This newly approved plan will supersede the original plan adopted in 2014.