Further Funding Approved for Albany Terrace Apartments and Irene McCoy Gaines Apartments

The City of Chicago has awarded further funding to both the Albany Terrace Apartments and the Irene McCoy Gaines Apartments. The Albany Terrace Apartments is located at 3030 W 21st Place in the South Lawndale community and yields 350 units in a 17-story tower, including a total of 32 mobility-accessible units and 37 sensory adaptable units in a senior living complex that was originally built in 1974. The 17-story Irene McCoy Gaines Apartments were constructed in 1964 and named in honor of the first African American woman to run for a seat in the Illinois Legislature. The senior living property is located at 3700 W Congress Parkway in East Garfield Park and is composed of 151 studio and one-bedroom apartments including 30 ADA-accessible units. According to the decision, both buildings are receiving the funding to contribute towards critical systems upgrades garnered by way of a financial proposal that was approved by City Council on Friday of last week.

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513 S Damen Avenue

“The Lydian” Nears Finish Line in Illinois Medical District

The construction for a 22-story mixed-use building now dubbed “The Lydian” is closing in on completion at 513 S Damen Avenue in the Illinois Medical District. With 279 rental units and 1,000 square feet of retail on the ground level, the 242-foot-tall structure is being developed by Marquette Companies and meant to cater an increasing apartment market amongst medical professionals working nearby.

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City Announces Sale Of Over 2,000 Lots Across South And West Sides

The City of Chicago has announced a new consolidated program to sell over 2,000 city-owned lots across various neighborhoods in the south and west sides. Focusing on neighborhoods like Englewood, West Englewood, New City, Garfield Park, North Lawndale, and Austin, the program aims at creating an equitable path for property ownership in areas that have long suffered from widespread disinvestment. Dubbed ChiBlockBuilder, it is being led by the Department of Planning and Development and city commissioner Maurice Cox with the blessing of Mayor Lori Lightfoot.

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City Council Approves Funding to Preserve Grocery Access on West and South Side

On November 18th the Department of Planning and Development announced a recent City Council decision to award funding to neighborhood grocer Yellow Banana LLC. Yellow Banana will be using the funding to aid in acquiring and rehabilitating a total of six supermarkets on the west and south sides of the city. The grocery stores are all Save A Lot supermarkets and have been acquired via $13.5 million in Tax Increment Financing (TIF).

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