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POAH opens The Grant at Woodlawn Park

Alderman Willie B. Cochran of the 20th Ward and LISC Chicago joined the Preservation of Affordable Housing (POAH) on November 21, 2013 to celebrate the grand opening of The Grant at Woodlawn Park. The 33-unit, mixed-income rental apartment building, at 6129 S. Cottage Grove Ave. is the second phase of the Woodlawn Park redevelopment and the latest chapter in Woodlawn’s renaissance.

"We congratulate the Preservation of Affordable Housing on the grand opening of The Grant at Woodlawn Park,” said LISC Chicago Executive Director Susana Vasquez. “This is an important project and development for the Woodlawn neighborhood and will provide a strong foundation for the community."

LISC provided a $1 million predevelopment loan to POAH for the project.  About half of that was used in 2012 to demolish empty Grove Parc buildings that were causing safety concerns.

The new building includes 10 one-bedroom, 15 two-bedroom and eight three-bedroom apartments that are affordable for households earning up to 60 percent of the Area Median Income (AMI), or $35,340 for a two-person household. The energy-efficient apartments are about a three-minute walk from the CTA's Cottage Grove Green Line station, which serves about 2,300 incoming passengers each weekday.

The Woodlawn Park development will replace three blocks of the troubled Grove Parc Plaza Apartments with its mix of residences, retails and community amenities. The development is a vital foundation for the neighborhood and will reenergize and attract desirable businesses to a key intersection in the Woodlawn neighborhood. Additional work is scheduled to begin soon.

Read more in DNAinfo Chicago

Posted in Housing, Lending, Woodlawn

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Local Initiatives Support Corporation Chicago connects neighborhoods to the resources they need to become stronger and healthier.

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