Subsidy Tracker Individual Entry

Company: 
Holsten Real Estate Development
Parent Company: 
Subsidy Source: 
Local
Location: 
Illinois
City: 
Chicago
County: 
Cook
Address: 
1029 N Cleveland Av
Project Description: 

As one of CHA's Plan Forward developments, Parkside Four Phase II will be the fourth rental phase of the Parkside of Old Town development. The Parkside of Old Town development, which is located in the Near North Community area, spans from Division on the north, Orleans on the east, Larrabee on the west, and Oak Street on the south. To date, 592 units of mixed-income rental and for-sale housing has been erected on site in a combination of mid-rises, walk-ups, town homes and condominiums. Of the 592 units, 182 are CHA/PH units, 148 are affordable to households at the 60% AMI levels and below, and 262 are for market rate tenants. This phase will consist of new construction of 102 mixed-income rental units that range from studios, up-to four-bedrooms, and will be housed in a combination of two, three-story walk-ups (33 units), and a seven story mid-rise, elevator building (69 units). The CHA/PH, as well as affordable units will rent to tenants at the 80% AMI and below levels. Additional amenities will include off-street parking, outdoor spaces and community space. All of the land is CHA-owned, and CHA will issue a long-term ground lease. Holsten Real Estate Development is the developer and has been for all of the Parkside of Old Town phases.

Year: 
2019
Subsidy Value: 
$9,500,000
Program Name: 
Chicago: Tax Increment Financing
Awarding Agency: 
Chicago Department of Planning and Development
Type of Subsidy: 
Tax Increment Financing
Capital Investment: 
$43,533,133
Notes: 

Subsidy was issued for Near North TIF district. Subsidy value is approved amount. Investment data is total projected project cost. Year is year credit approved.

Source Notes: 
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