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Nonprofit housing group plans $38M resi development on West Side

December 19, 2022


The Real Deal Chicago story

A Boston-based nonprofit is expanding its affordable housing efforts in Chicago with a $38 million development on the West Side.

Preservation of Affordable Housing plans to develop a three-story, 43-unit apartment building at 3155 West Fifth Avenue in the East Garfield Park neighborhood, the Chicago Business Journal reported. The developer also plans to construct a second residential building across the street that will function as a cooperative development.

“By having a co-op development, it will allow residents to have ownership in where they live,” Preservation of Affordable Housing’s Bill Eager told the Chicago Business Journal.

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