CHA CEO MICHAEL MERCHANT ANNOUNCES NEXT PHASE OF REDEVELOPMENT AT ALTGELD GARDENS
$54 Million Investment Will Provide More Affordable Housing and Jobs to Neighboring Community and Businesses
CHICAGO – March 23, 2015 – (RealEstateRama) — Chicago Housing Authority announced today it is set to begin the next phase of renovations for Altgeld Gardens –Murray Homes Development on the city’s Far South Side. CHA is in the midst of multi-phased rehab of the housing development that will improve housing options for thousands of families. This is part of CHA’s plan to invest $240M in 2015 to build affordable housing units across the City on top of the $135M spent last year to develop affordable housing for low-income families and seniors.
The project’s next phase will improve an additional 218 residential units. After completion of the first four phases of Altgeld Gardens, CHA met with community residents and housing advocates to determine how best to continue strengthening Altgeld Gardens and redeveloping the rest of the site. The master plan created includes amenities that residents requested, such as improved laundry facilities, childcare center, recreation space and roads.
“The historic redevelopment of Altgeld Gardens is part of our larger effort to provide affordable housing options in neighborhoods throughout the City so that families and communities can thrive,” said CHA CEO Michael Merchant. “We are not only building quality, safe and affordable homes; we are also building a sense of community.”
As part of every project, CHA looks for opportunities to strengthen surrounding neighborhoods and involve the residents who live there in the process. As part of CHA’s revised section 3 policy, CHA set a goal that 10% of all contracts go to section 3 businesses. CHA is currently working with the project’s lead contractor to engage Section 3 residents and businesses.
“As we redevelop Altgeld Gardens, CHA is committed to listening to the voices of the residents and making sure that they play a role in this important project,” said Z Scott, Chairperson of the Board of Commissioners. “CHA is always committed to working with the members of our communities and valuing the vital role that they play in every redevelopment. We remain committed to helping the residents of Altgeld Gardens find jobs and access new business opportunities that this redevelopment will bring.”
As part of CHA’s strategic initiative, Plan Forward, CHA continues to build strong, vibrant communities throughout Chicago and to increase affordable housing opportunities for low-income families of this great city. CHA has created 9,000 new housing opportunities for Chicago residents since Mayor Emanuel took office. By the end of 2015 CHA plans to provide affordable housing vouchers to more than 43,000 families in need, an increase of more than 8,000 since 2011. The agency’s key mission is to help communities thrive and low-income residents increase their potential for long-term economic success and a high quality of life.
Press contact:
Office of Communications – Chicago Housing Authority
Wendy Parks: (312) 913-7984; wparks (at) thecha (dot) org;
Matthew Aguilar: (312) 935-2646; maguilar (at) thecha (dot) org
