Thursday, April 7, 2016

The Habitat Co. Extends Affordable Housing Program at Asbury Plaza in Chicago’s River North

Sheila Byrne
CHICAGO, IL  – The Habitat Company, a leading multifamily developer and manager in the United States, announced on behalf of ownership of Asbury Plaza, that with the U.S. Department of Housing and Urban Development (HUD) and the Illinois Housing Development Authority (IHDA), the company has extended the affordable housing program at Asbury Plaza, a 384-unit apartment community in Chicago’s River North neighborhood, for an additional 15 years to 2031.

Since Asbury Plaza opened in 1981, 20 percent of the community’s 384 residences, or 77 apartments, have been set aside as affordable through HUD’s Section 8 program. “We are proud that Asbury Plaza will continue to be accessible to Chicagoans, regardless of income level,” said Matt Fiascone, president of The Habitat Company.

“This agreement is the result of a cooperative effort by Habitat and officials from HUD and IHDA that culminated in a continuation of affordable housing at Asbury for the next 15 years.”

Located at 750 N. Dearborn St., Asbury Plaza includes a mix of convertible, one- and two-bedroom apartments ranging in size from 675 to 1,040 square feet. The extension of the community’s affordable housing program comes as the property is undergoing extensive renovations that will update individual residences with new flooring, lighting, appliances and granite countertops.

Matthew Fiascone
The Habitat Company also recently completed a new lobby and redecorated hallways, expanded fitness center and new business center as part of the ongoing renovations. Other on-site amenities at Asbury Plaza include an outdoor swimming pool and sun deck, furnished guest suites and a 24-hour door attendant.

“For 35 years, Asbury Plaza has served as a model of how a mixed-income community can thrive,” said Sheila Byrne, executive vice president of property management at Chicago-based The Habitat Company. 

“The extension of the affordable housing program, coupled with the ongoing renovations, will help ensure that Asbury Plaza remains a vibrant community for years to come.”

Celebrating its 45th anniversary in 2016, The Habitat Company has deep roots in affordable and public housing. Habitat is currently the largest property manager for the Chicago Housing Authority. The company’s management portfolio comprises more than 25,000 units across the U.S., of which more than 8,500 are affordable or public housing units.

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For a complete copy of the company’s news release, please contact:

John Holden,, 312.267.4538
Kim Manning,, 312.267.4527

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