LOGAN SQUARE — Plans to build a 100-percent affordable housing complex and a public park on a massive site at the western end of The 606 came one step closer to reality Tuesday.
The city’s Community Development Commission unanimously approved the sale of the 4-½ acre Magid glove factory site at 1800 N. Ridgeway Ave. to the city.
The site is currently owned by the Trust for Public Land, the private partner tapped by the Chicago Park District to help oversee The 606’s Bloomingdale Trail. The agency is looking to sell the site to the city with the goal of building at least 150 units of affordable housing and a public park there.
The project, which would be a partnership between the city and the Trust for Public Land, has the full support of Ald. Roberto Maldonado, whose 26th Ward includes the site. The alderman has said it would help ease gentrification woes in the area.
“This [project] could be a huge stabilizer,” Maldonado previously told Block Club, adding that it would allow “150 families to stay in our community, in a community that they have called home for so many decades.”
The sale still needs approval from the full City Council.
If that happens, the city will demolish the vacant factory buildings and then begin to secure the funding needed to build an affordable housing complex and a public park on the site.
Maldonado has said tax credits and Tax Increment Finance (TIF) dollars will likely make up a lot of the funding. The land sits in the Pulaski Corridor TIF district.=
Do stories like this matter to you? Subscribe to Block Club Chicago. Every dime we make funds reporting from Chicago’s neighborhoods.
Comments are closed.