AUBURN GRESHAM APARTMENTS BREAKS GROUND ON 79TH STREET

 AUBURN GRESHAM APARTMENTS BREAKS
GROUND ON 79TH STREET

Mayor Lori E. Lightfoot joined Ald. David Moore, City officials and local leaders on Wednesday, Aug. 24, to break ground on Auburn Gresham
Apartments, a two-building, 58-unit, mixed-use complex in the heart of Auburn Gresham that represents the first of more than 10 major construction projects to move forward through the City’s INVEST South/West initiative.

“I am thrilled to begin construction on Auburn Gresham Apartments
and many other transformative projects on our South and West Sides,”
said Mayor Lightfoot. “This transit- oriented development will not only
bring affordable housing and dining options to the neighborhood but will
revitalize this corridor for all South Side residents to enjoy. I look forward
to making continued, unprecedented investments in our targeted neighborhoods in partnership with our communities to realize their visions for their homes.”

A joint venture of minority-owned Imagine Group and Evergreen Real
Estate Group, the $43 million project is the result of a Department of Planning and Development (DPD) request for proposals (RFP) for vacant City land at 79th and Green streets. Envisioned as a single building in 2021,
the proposal was subsequently refined through three community workshops
that shifted more than half of the proposed units to a second City-owned
site at 79th and Halsted Street.

The two-building layout ensures the size and scale of both buildings
are contextual with neighbors while adding new vitality and density to
formerly vacant City land, according to DPD Commissioner Maurice Cox.

“Auburn Gresham Apartments represents a dream come true for dozens
of families that see their future on 79th Street,” Commissioner Cox said.
“These stakeholders helped draft the RFP, they helped refine the original
proposal, and they’ll be the ones who directly benefit from the new housing,
shopping and dining options that this project brings to the neighborhood.”

Designed by minority-led Nia Architects and Ross Barney Architects,
the project includes a three-story building at 838 W. 79th St. that will
feature 28 one- to three-bedroom apartments, 28 parking spots and
5,200 square feet of commercial space to be occupied by West African food
purveyor AYO Foods. A five-story building at 757 W. 79th St. will feature
30 one- to three-bedroom apartments, 14 parking spaces and 3,300
square feet of commercial space occupied by KLEO Community Center and
The Park Supper Club.

All the apartments in both buildings will be priced at affordable levels,
with monthly rental rates ranging from approximately $925 to $1,250
per month.

“From the moment we heard about INVEST South/West, we knew
we wanted to be part of this transformational community development initiative that will bring countless social, economic and quality-of-life benefits
to the areas that need them most, including Auburn Gresham,” Imagine
Group principal Torrey Barrett said. “As the first INVEST South/West
project to be approved by the City Council and secure both land entitlements and financing, Auburn Gresham Apartments advances the vision set forth by Mayor Lightfoot and shared by our team and the many community stakeholders who helped shape this development.”

DPD and the Chicago Department of Housing (DOH) are supporting
the project with $18 million in Tax Increment Financing, $18 million in
Low-Income Housing Tax Credits equity, a $2.5 million HOME loan and
a land write-down of approximately $180,000.

Anticipated to be under construction for approximately 18 months,
the two development sites feature temporary murals by Chicago artist
Rahmaan Statik.

“Thanks to Mayor Lightfoot, the Department of Planning and Development,
Imagine Group, and Evergreen Real Estate Group: what once was
vacant land will now be transformed into something beautiful,” Ald. David
Moore (17th) said. “By highlighting minority developers, architects
and contractors the Auburn Gresham Apartments will inspire minds,
represent empowerment, and make a difference in the community.”

INVEST South/West is an urban revitalization strategy being implemented
by Mayor Lightfoot that is guiding $1.4 billion in public and private investment within 10 West and South side community areas.

Other public investments in Auburn Gresham include $11 million
in streetscape improvements at 79th and Halsted, a new $35 million
Auburn Park Metra station, a $2.6 million Chicago Recovery Plan grant
to re-open Save A Lot foods at 7908 S. Halsted, $10 million in assistance for the Healthy Hub at 839 W. 79th and an approximately $500,000 grant to
St. Sabina Church to provide corridor ambassadors along local retail streets.

Through the remainder of 2022, additional INVEST South/West RFP
projects are expected to break ground in Englewood, Austin, Humboldt Park
and North Lawndale.

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