Mayor Emanuel Announces Passage of Housing Proposals That Will Create Nearly 200 Units of Senior, Supportive and Family Housing
Read full article at cityofchicago.org
The $11.6 million Brainerd Park Apartments will be constructed on the southwest corner of 89th and Loomis streets in Auburn Gresham. The 36-unit supportive housing complex planned for formerly homeless families by Full Circle Communities Inc. and Christian Community Health Center will include a mix of one- to three-bedroom units. Nine of the units will be reserved for public housing residents and the rest will be made available to tenants earning up to 60 percent of area median income. On-site amenities will include a computer room, library, laundry facilities, parking, and play area. On-site support services will include career counseling, computer training, substance abuse treatment and referrals to other programs and community resources. City assistance will include a $1.9 million loan, $670,000 in Low Income Housing Tax Credits that would generate $7.2 million in equity, $505,000 in donations tax credit equity, and the sale of 12 City-owned parcels appraised at $1.1 million for $1 apiece. Additional funding will include a $540,000 loan from the Federal Home Loan Bank, a $1.2 million IFF loan, and a $124,000 energy grant from the Illinois Department of Commerce and Economic Opportunity (DCEO).