An affordable housing project everybody wants is stalled because of an issue with parking

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“We can get to that,” Martin said, if the parking snarl can be resolved.

On a 43-space surface parking lot at 4715 N. Western Ave. that is now owned by the city, a developer proposes to build a five-story building with commercial space on the first floor, public parking on the second and 51 units of designated affordable housing on the upper three. The apartments would be studios and one- and two-bedrooms priced to meet the city’s standards for affordable housing, at a maximum of about $75,000 household income.

The stack of three uses “is a way to support affordable housing and support one of the hallmark local business districts in the city,” said Teresa Fourcher, a 15-year Lincoln Square resident and urban planner. The Lincoln Avenue strip just east of the parking lot has a thriving mix of restaurants, entertainment venues and retailers, some of whose customers park in the lot.

The combination of uses in the proposed building “is a solution that works for everyone in the community,” Fourcher said.

The existing parking lot has an entrance from Western Avenue, and as proposed by developer The Community Builders, the new building would as well, with 41 parking spaces on the second floor. In December, the proposal was one of 24 that the city Department of Housing included in a billion-dollar package of affordable housing projects that would receive low-income housing tax credits as a tool for funding their construction.

Since then, Martin and others said, the city’s housing and planning departments have stipulated that Community Builders must revise its plan, in part pushing the parking entrance off Western and onto an alley on the opposite side of the lot, stretching north from Leland Avenue. They have also stated concern about providing low-income housing tax credits to fund a parking lot.

via Crain’s Chicago Business

May 5, 2022 at 08:02PM

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