City of Chicago Announces $300M Investment in Affordable Housing

Lawndale News Chicago's Bilingual Newspaper -  Business

The Chicago Department of Housing (DOH) announced an investment of more than $300 million in 15 affordable housing developments across the city as part of the 2025 Qualified Allocation Plan (QAP). The 15 developments will create or preserve 1,223 housing units, 1,164 of which will be affordable.  The total development costs for the 15 developments are estimated at $711 million, which incorporate public and private resources. This includes approximately $16 million in LIHTC, which will generate an estimated $100 million in private equity, and an estimated $300 million from City financial assistance.  When projects receive LIHTC or City assistance, they enter into agreements that guarantee 30 years of affordability for tenants.  The 2025 awardees are:

• Southbridge 3A, Near South Side; 

• Heart of South Shore, South Shore; 

• Gateway 79, Chatham; 

• 79th & Woodlawn Senior Living, Calumet Heights; 

• Bontemps Apartments, West Englewood; 

• Woodlawn Social, Woodlawn; 

• KLEO’S Corner Apartments, Washington Park; 

• 18th & Peoria M2, Lower West Side; 

• Encuentro Square Phase 2, Logan Square; 

• Ogden Commons A-3 Residential, North Lawndale; 

• Westgate, West Garfield Park; 

• Metropolitan L Apartments, Logan Square; 

• Leland Apartments, Uptown; 

• Hollywood House Apartments, Edgewater; 

• Gateway Apartments Preservation, Rogers Park. 

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