<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=0dliAO_0vielKUv00" alt="https://img.particlenews.com/image.php?url=0dliAO_0vielKUv00" width="820" height="510" >Chicago Mayor Brandon Johnson announced the first two developments that will receive financing from the Housing and Economic Development (HED) bond, which allocates funds to the construction and preservation of affordable housing. CARE Manor in West Garfield Park will offer 44 units, while Prairie District will rehabilitate 100 units into Permanent Supportive Housing. Located in West Garfield Park, CARE Manor will be a new construction at 4531 W Washington Blvd. The project’s total development costs are expected to be $31.6 million, with $9.6 million in HED funds. Prairie District features the complete rehabilitation of a six-story SRO building. The property, sitting at 1801 S Wabash, will contain 100 affordable rental units. Anticipated total development costs reside at $54.9 million, with $10.9 million coming from the HED bond. “We’re taking bold steps to address the housing crisis by investing in developments that will bring more affordable homes to communities across Chicago,” said Johnson.ConnectInside The StoryJasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.<h2>Apartment buildings for sale</h2>Check out the latest properties available on apartmentbuildings.com<ul><li>Chicago, ILChicago &amp; Midwest + Apartment Buildings</li><li>Listing Status:Available</li><li>Listing Type:Call for offers</li><li>Price:$8,495,000</li><li>No. of Units:28</li><li>Opportunity Zone:No</li><li>Price per unit:$303,392</li><li>Fort Wayne, INChicago &amp; Midwest + Apartment Buildings</li></ul><ul><li>Listing Status:Available</li></ul><ul><li>Listing Type:Highest &amp; best offer</li></ul><ul><li>No. of Units:365</li></ul></div></body>

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Chicago Announces First Projects to Receive New Bond Proceeds

Chicago Mayor Brandon Johnson announced the first two developments that will receive financing from the Housing and Economic Development (HED) bond, which allocates funds to the construction and preservation of affordable housing. CARE Manor in West Garfield Park will offer 44 units, while Prairie District will rehabilitate 100 units into...