The 164-unit project is a collaboration between public and private entities. The property is located 4.5 miles south of downtown.
From Multi-Housing News:
Brinshore Development and Michaels Development Co. have started construction on the first phase of 4400 Grove, a 164-unit mixed-income community in Chicago’s Bronzeville neighborhood. Pappageorge Haymes Partners designed the project and general contracting duties will be shared by McShane Construction and UJAMMA Construction.
The Chicago Housing Authority, U.S. Bancorp and other lenders are part of the joint venture of public and private entities involved in this project. City of Chicago support includes $7.2 million in Tax Increment Financing, $1.9 million in Low Income Housing Tax Credits that will generate $17.8 million in equity and $783,000 in donation tax credit equity. A similar project, which received financing from the City of Chicago and the Chicago Housing Authority, broke ground last October.
Read Multi-Housing News’ article “Mixed-Income Chicago Development Breaks Ground,” featuring the Chicago Housing Authority.