New Affordable Housing Developments Approved by CHA Board
CHICAGO (March 30, 2020) – The CHA Board of Commissioners today approved preliminary commitments to provide Project Based Vouchers (PBV) to 13 developments with 222 units across the city through the Property Rental Assistance (PRA) program, along with funding for a new 100 percent affordable apartment building in Logan Square.
Investment in these developments will expand and preserve affordable housing, provide long-term affordability and support the City’s Plan to End Homelessness while building on CHA’s partnerships with the City of Chicago and developers.
“We continue to work with our partners to find ways to create new housing and preserve much-needed affordable units in communities across our city,” said Acting CHA CEO James L. Bebley. “In addition to expanding housing opportunities, we are providing housing for some of our city’s most vulnerable populations. Stable housing is the foundation they need as they work to rebuild their lives.”
Also Tuesday, CHA Commissioners approved up to $13 million in funding, including a loan plus long-term rental subsidy for Emmett Street Apartments, a seven-story, transit-oriented building in Logan Square.
Emmett Street Apartments will be 100 percent affordable, with 50 RAD/PBV-assisted units for CHA families earning up to 80 percent of the Area Median Income (AMI). An additional 50 affordable units will be available for families earning up to 60 percent AMI. The project is also supported by funding from the City of Chicago with $24 million in tax-exempt bonds, $10.1 million in Tax Increment Financing (TIF), up to $2 million in multi-family loans, city-owned land and Illinois Affordable Housing Tax Credits totaling $2 million, pending final City Council approval.
The building will include a spacious lobby, community room, common laundry area, interior bike room, exterior bike rack, and onsite property management.
The 13 Project-Based Voucher developments are:
- Big Deahl Apartments, a 100-unit, new construction residential development in the Near North Side community. PRA will assist 48 family units.
- CalMel Family Apartments is a 68-unit, new construction, mixed-use residential development located in the Avondale community. PRA will assist 17 family units.
- Chicago Lighthouse Residences is a nine-story, new construction, elevator building in the Near West Side community.The building will contain 76 units. PRA will assist 19 units.
- Encuentro Square Apartments is a new construction development containing 60 rental units and 14 townhomes located near Lathrop Homes and Chicago’s Bloomingdale Trail. PRA will assist 18 units.
- Englewood Family House is a 13-unit, three-story, mixed-use masonry, preservation development located in the Englewood community. PRA will assist 7 units for homeless families in partnership with Chicago’s Plan to End Homelessness.
- Horner Park Lofts Apartments is a 46-unit, four-story, new construction development located in the Irving Park community. PRA will assist 11 units. Applicants for the veteran units will be identified by the U.S. Department of Veteran’s Affairs and the CHA wait list.
- Magid Glove Redevelopment is an 85-unit new construction development for families in the Logan Square community and located near the Bloomingdale “606 trail.” PRA will assist 21 units.
- New City Apartments is the construction of three buildings located in the Near North Side community. The development will contain a total of 48 units. PRA will assist 24 units.
- Sarah’s Circle II Apartments is a new construction, elevator development providing housing with supportive services to homeless women. PRA will assist 24 studio units.
- 1201 N California Apartments is a 64-unit, new construction, nine-story, elevator family building in the West Town community. PRA will assist 14 units.
- 1850 S Racine Apartments is a 37-unit, new construction five-story, elevator building located in the Lower West Side community. PRA will assist nine family units.
- 4715 N Western Apartments is a new-construction, mixed-use development located in the Lincoln Square community. The development will contain 42 total units. PRA will assist 10 family units.