- Credibility:
PILSEN — A Pilsen nonprofit’s $28.7 million plan to rehab affordable housing units in three South Side neighborhoods was approved by City Council last week.
The city will help the nonprofit rehab 155 affordable housing units in 14 apartment buildings in Pilsen, Little Village and Back of the Yards. The plan, called Casa Veracruz, was introduced by Mayor Lori Lightfoot earlier this year.
The Resurrection Project will begin work to fix up the apartments — which range from studios to four-bedroom apartments – starting this summer.
The buildings they plan to rehab include:
- 1910 South Albany Ave.
- 2124 W. 19th St.
- 2243 S. Central Park Ave.
- Casa Tabasco, 2301 S. Drake Ave.
- Casa Sor Juana, 2700 S. Drake Ave.
- Casa San Luis, 1640 S. Throop St.
- Casa Puebla, 2014 S. Racine Ave.
- Casa Oaxaca, 1714 W. 19th St.
- Casa Monterrey, 967 W. 19th St.
- Casa Hidalgo, 4600 S. Wood St.
- Casa Guerrero, 963 W. Cullerton St.
- Casa Guanajuato, 1313 W. 19th St.
- Casa Chiapas, 1712 W. 17th St.
- Casa Colima, 1427 W. Cullerton St.
The buildings were last rehabbed over 10 years ago, according to the organization’s website.
The project will improve the lives of more than 500 individuals who live in the buildings, said Raul Raymundo, Resurrection Project CEO.
“Casa Veracruz reiterates [the Resurrection Project’s] continued commitment to investing in and preserving affordable housing,” he said.
Families that benefit from the Resurrection Project’s affordable housing stock must make 30-60 percent of Area Median Income or less, according to the organization’s website. About 78 Section 8 units will also be rehabbed as part of the plan, according to a release from the mayor’s office.
Up to $15 million in tax-exempt bonds, nearly $1 million in 4 percent Low-Income Housing Tax Credits and the restructuring of $7.7 million in Department of Housing loans will be provided to the Resurrection Project as part of the plan.
About $7.4 million in new Department of Housing multi-family loan dollars will also be issued.
Do stories like this matter to you? Subscribe to Block Club Chicago. Every dime we make funds reporting from Chicago’s neighborhoods.
Already subscribe? You can make a tax-deductible donation to support our nonprofit newsroom here.
