Chicago City Wire

The Chicago Department of Housing (DOH) has announced the first two developments to receive financing from Mayor Brandon Johnson's HED bond. This initiative is part of a broader strategy to fund housing, with Mayor Johnson committing $230-250 million for the construction and preservation of affordable rental homes.

The first development, CARE Manor, will be located in West Garfield Park at 4531 W Washington Blvd. It will feature a three-level walk-up building comprising one one-bedroom unit, 29 two-bedroom units, and 14 three-bedroom units, totaling 44 units. All units are aimed at households earning at or below 60% of the Area Median Income (AMI). The project includes amenities such as on-site laundry facilities and 21 parking spaces, with half of the units accessible to individuals with physical disabilities. Situated in the Madison-Austin Corridor TIF district, the total development cost is expected to be $31.6 million, with $9.6 million funded by HED.

"The bond has been instrumental in filling critical budget gaps for our pipeline of developments," said Housing Commissioner Lissette Castañeda. "With the bond, DOH can maintain financial flexibility, ensuring we are on track to providing affordable, safe housing to all 77 community areas of Chicago."

The second development is named Prairie District and is located in Near South Side at 1801 S Wabash. It involves the complete rehabilitation of a six-story Single Room Occupancy (SRO) building that will house 100 affordable rental units. Of these units, 97 will be available for individuals earning between 30-60% AMI, while the remaining three units will be offered at 80% AMI.

This development includes amenity spaces such as a private outdoor landscaped courtyard with seating, an activity room, a recreation area with a kitchenette, a fitness room, and a laundry room. It is designed as Permanent Supportive Housing (PSH) for individuals needing support in career development and counseling. Additional resources include program referral offices and resident services offering computer skill training.

The rehabbed units will measure 416 square feet each and feature improved kitchens, full bathrooms, and air conditioning. The anticipated total development cost stands at $54.9 million, with $10.9 million sourced from the HED bond.