The City of Chicago, through financial measures introduced by the Chicago Department of Housing and Mayor Brandon Johnson, has agreed to the issuance of up to $3.2 million in new grant funds for the rehabilitation of a six-story, 60-unit masonry constructed elevator apartment located at 8915 S. Loomis Street in Washington Heights.

The building, originally constructed in 2000, operated as an age-restricted multi-family rental property for low-income residents, with an adjacent surface parking providing 20 spaces.

The proposed project will provide 60 rehabilitated housing units affordable for seniors aged 55 and above who earn less than 60% of the area median income (AMI). Affordability restrictions will be in place on the property for no fewer than 35 years from closing.

The project will comply with the requirements of the City’s Affirmative Action Ordinance, which requires contract participation of 26% by minority-owned business enterprises (MBEs) and 6% by woman-owned business enterprises (WBE). The project will comply with the requirements of the City’s Residency Ordinance, which requires that at least half of all construction worker hours be filled by Chicago residents.

Furthermore, environmentally friendly features have been incorporated into the proposed project pursuant to participation in the City’s multi-family decarbonization pilot program.