GRAND BOULEVARD — Residents and community leaders gathered Tuesday to celebrate the grand opening of 508 Pershing, the latest phase of the massive Oakwood Shores development plan.
The $24.3 million, four-story mixed-use residential building at 508 E. Pershing Road is a joint venture between the Chicago Housing Authority, The Community Builders and United Health Group to bring more affordable housing to underserved communities.
The building has already filled 51 of its 53 units and created a waitlist to fill the remaining two, officials said.
CHA CEO Tracey Scott praised the team behind the development, saying it’s an example of public and private sector collaboration. Plans to add 51 more housing units to Oakwood Shores are underway, she said.
Oakwood Shores was built on the former site of the Ida B. Wells, Madden Park and Clarence Darrow homes, which comprised more than 3,500 homes, according to the CHA. Construction started in 2003 to bring back 3,000 rentals and for-sale housing units to the 100-acre site.
About 900 units have been completed, developers and officials said.
“At CHA, we’re reimagining, rethinking and reinvigorating the community. When we invest in new construction, we’re building communities — strong communities — that can sustain themselves for the future,” said Scott, a Mayor Lori Lightfoot pick who was appointed to her post in 2020.
There are 50 one-bedroom apartments and three two-beds. Sixteen are market-rate, 20 are public housing and the remainder are Low Income Housing Tax Credit units. The tax credit apartments are for households earning up to 80 percent of the area median income, or $83,350 for a family of four, officials said. Market rate rent is $1,250-$1,450.
Amenities include a dog spa, game room, fitness center, bike room, residents lounge, a rooftop patio and and on-site sales center where staff can update residents on future Oakwood Shores phases or inform them about homeownership opportunities. Each unit features all-electric appliances, including an in-unit washer/dryer.
It’s also across the street from the Bronzeville Mariano’s, which will provide necessary food access, officials said.
McHugh Construction and Brown and Moment were behind the build.
Crossing guard Sarah Owens, who moved to the building two months ago, shared her joy about her new home at the ribbon-cutting ceremony, saying it will allow her to save money, pay debts and help others.
“After I sent in my application for Oakwood Shores, I received a call from 508 Pershing, and my sister and I drove by for a look-see. I was so excited,” said Owens, who praised The Community Builders staff with helping her navigate the application process. “I am blessed to be part of something so grand, from the floors to the ceilings to the people. I put out my welcome mat for the first time because this is a place I can call home.”
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