The third redevelopment phase of Woodlawn’s Grove Parc apartment complex will move forward under a plan approved today by City Council.
Planned by Preservation of Affordable Housing Inc. (POAH) at 6116-44 S. Cottage Grove Ave., the $24.3 million project will create 64 apartments for seniors. City financial assistance will include a $2.8 million loan and $1.4 million in Low Income Housing Tax Credits that will generate $14.4 million in equity for the project.
“This is another great residential facility for the seniors of Woodlawn and another step forward for the entire community,” Mayor Emanuel said.
Additional financing includes a $5.1 million Choice grant from the U.S. Department of Housing and Urban Development (HUD) and $500,000 in energy grants from the State of Illinois, among other sources.
The five-story “Woodlawn Park Senior Apartments” building will include one-and two-bedroom units, an onsite management office, community resource center, and laundry facilities on each floor. All of the apartments will involve project-based Section 8 vouchers and be made available to seniors earning 60 percent or less of the area median income.
Grove Parc was a 504-unit, HUD-assisted housing development built in the 1960s on the 6100 to 6300 blocks of South Cottage Grove Avenue.
It is being demolished in phases and rebuilt as a mixed-income development known as Woodlawn Park. Sixty seven units were completed in 2011 as part of the Woodlawn Center South Apartments and 33 units recently opened at The Grant at Woodlawn Park.
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