Related Midwest recently celebrated the opening of three new residential buildings as part of Phase 3B of Roosevelt Square, its expansive 67-acre multiphase redevelopment project on Chicago’s Near West Side.
Developed in collaboration with the Chicago Department of Housing and the Chicago Housing Authority (CHA), this latest phase introduces 207 mixed-income apartments to the former ABLA Homes site. The new residential offerings include 75 public housing units, 40 affordable units, and 92 market-rate apartments. In addition to housing, the development incorporates 10,000 square feet of retail space.
The newly completed buildings are located at 1002 S. Racine Avenue, 1257 W. Roosevelt Road, and 1357 W. Roosevelt Road. Residents can choose from a range of studio, one-, two-, and three-bedroom layouts. The development was made possible through a combination of funding sources, including $17 million in Tax Increment Financing (TIF), $2.5 million in Donation Tax Credits, and $76.25 million in tax-exempt bonds issued by the city of Chicago. These bonds helped generate an additional $5.29 million in 4% Low-Income Housing Tax Credits, bringing the total public investment to approximately $101.04 million.
The architectural design was led by Chicago-based firm DesignBridge, with construction carried out by a team that included BOWA Construction, Blackwood Group, MIKK, and GMA.
Photo credit: Moody Nolan.
