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| Sangamon Terrace Apartments, Englewood Neighborhood, Chicago, IL |
CHICAGO, IL – Evergreen Real Estate Services has announced
the recent completion of Sangamon
Terrace Apartments, a new four-story building providing 24 units of
affordable senior housing near 63rd and Halsted streets in Chicago’s Englewood
neighborhood.
Sangamon Terrace marks a
significant investment in new senior housing construction for the neighborhood
and is the nation’s last new-construction housing mixed-finance HUD 202
project.
Located at 6145 S.
Sangamon Terrace, the $8.8 million Sangamon Terrace development received $4.3
million through the Department of Housing and Urban Development’s (HUD) Section
202 program, which was created in 1959 to finance the development and
preservation of supportive housing for low-income seniors.
Although Section 202 still
provides rental assistance to residents of existing communities, funding for
new construction has not been available since 2012.
The Sangamon Terrace
project team included Chicago-based firms Harley Ellis Devereaux as project
architect, The Richman Group Affordable Housing Corp. as tax credit syndicator,
Citi Community Capital as construction lender and Joseph J. Duffy Co. as
general contractor.
For a complete copy of the company’s news release,
please contact:
Kelly Shumaker, kshumaker@taylorjohnson.com, 312-267-4519
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