US$5.5 million in TIF and land sale approved for Grace Manor Apartments, Chicago

The Community Development Commission authorized a $5.5 million TIF and sale of property for Grace Manor Apartments, a new development at 3401 West Ogden Avenue in Chicago. East Lake Management and Grace at Jerusalem CDC collaborated on the project, which faces W. Ogden Avenue from S. Homan Avenue to S. Trumbull Avenue. Currently, the site serves as a parking lot for the nearby 10th District Police Station.

Grace Manor Apartments will be a six-story mixed-use structure with 65 affordable apartments and commercial space on the ground floor. The mix of residential units will include 46 units offered at 60% AMI, comprising 22 one-bedroom variants and 24 two-bedroom variants. The remaining 19 rentals will be filled through the CHA RAD program, which will provide 9 one-bedroom units and 10 two-bedroom units.

Look for construction leads

Also Read: Fulton Tower, a 305 Residential Unit Development in Chicago, Approved

Features and Amenities of Grace Manor Apartments

A fitness center, laundry room, rooftop terrace, package room, computer room and on-site management will be among the tenant facilities. There will also be 18 parking spaces and bicycle storage. The building, designed by JGMA, is positioned to interact with the street at the edges while folding back to create an open plaza alongside the streetscape.

The outdoor square invites visitors and inhabitants of the building by offering relaxation along the urban periphery. The structure rises 72 feet above the base level, emphasizing the ground floor while leaving room for balconies on the upper floors.

The Chicago Department of Planning and Development (DPD), the Chicago Department of Housing (DOH), and the Chicago Housing Authority (CHA) are all helping to support the low-cost Grace Manor development project in Chicago. With approvals from the Planning Commission, Zoning Committee and City Council, the proposal is one step closer to reality.

The developers have received preliminary clearance from the Community Development Commission for the acquisition of the property and the TIF, and are currently awaiting full approval from the City Council. There is currently no completion date listed.

If you have any remark or more information about this article, please let us know in the comments section below.