CHA approves 11 teams for future mixed-finance, mixed-use developments
CHA approves 11 teams for future mixed-finance, mixed-use developments
PDT approach creates opportunities to provide loans and funds for projects that directly benefit CHA residents
The Chicago Housing Authority approved 11 development teams for future delivery of mixed-finance and mixed-use/mixed-income housing developments by way of the Pre-Qualified Development Team approach at Tuesday’s Board of Commissioners meeting.
The Pre-Qualified Development Team approach builds on CHA’s experience working with private development teams to develop quality housing that supports CHA’s mission to deliver affordable housing options for low-income families.
The development entities approved today will be able to bid on smaller developments proposed for sites that are less than five acres on CHA land.
“We welcome an opportunity to work with a diverse group of developers across the entire city of Chicago,” said Ann McKenzie, CHA’s Chief Development Officer. “This approach will allow us to move expeditiously on these smaller projects.”
The 11 approved teams are:
Bickerdike Redevelopment Corporation
East Lake Management & Development Corp.
Evergreen Redevelopment LLC
Hispanic Housing Development Corp.
Holsten Real Estate Development Corp.
Latin United Community Housing Association
The National Housing Partnership Foundation
Pennrose
Pivot Community Development, LLC/Avanath Capital
Standard Midwest, LLC
St. Edmund’s Redevelopment Corp.
The selected respondents will be issued a “Letter of Qualification,” which is valid for two years. During this two-year period, respondents may submit proposals to CHA.
Also Tuesday, the Board approved the adoption of CHA’s cannabis policy creating a single policy document that unifies existing policy references from other Plans and Policies regarding cannabis. It also clarifies CHA’s position on the use of cannabis to reflect CHA’s efforts to maintain a balanced and reasonable interpretation of the new marijuana law and address matters involving the use and possession of marijuana on a case-by-case basis with a thoughtful consideration of circumstances.
“CHA, Mayor Lori E. Lightfoot and the City of Chicago are working together to ensure a safe, responsible, fair, and equitable balance between existing federal and new state, and local laws following the legalization of recreational marijuana in Illinois on Jan. 1,” Acting CHA CEO James L. Bebley said.
CHA is working with residents, participants, landlords and applicants to provide information and guidance about how residents can exercise their rights under local law without jeopardizing their housing under federal law.
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