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| Eastwood Gardens Apartments, Englewood Neighborhood, Chicago, IL |
CHICAGO, IL –
Chicago-based The Habitat Company, a leading U.S. multifamily developer and
property manager, announced it has acquired and assumed property management of
an affordable rental development in Chicago’s Englewood neighborhood and also
assumed management of two additional affordable housing communities in the
Chicago area.
The three properties,
which total 500 residences in Chicago and suburban Chicago Ridge, will increase
Habitat’s affordable housing portfolio to more than 10,000 units.
“Ensuring families have
access to housing they can afford is as much a part of The Habitat Company’s
core business as its legacy,” said Matt
Fiascone, president of The Habitat Company. “These three projects are a
perfect fit for Habitat’s portfolio, and will further our commitment to
preserving quality affordable housing opportunities so people can continue
living in these Chicago communities they’ve called home for years.”
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| Matt Fiascone |
The three new properties
are:
Eastwood Garden Apartments, 6531 S. Lowe Ave., 188 one-, two-, and three-bedroom
rental apartments in the Englewood neighborhood (Under Habitat ownership and
management)
Indian Trails Apartments, 251 E. 121st Place, 221 E. 121st Place and 12141 S.
Indiana Ave.,180 one- and two-bedroom rental apartments in the Roseland area.
(Under Habitat management)
Ridge Garden Apartments, 10010-10040 S. Sayre Ave., 132 one-bedroom rental
apartments in Chicago Ridge. (Under Habitat management)
“Not only are these three
communities in neighborhoods that need well-managed and quality affordable
housing, which was certainly a draw for us, but we also saw potential in these
assets and will be announcing improvements in the coming months,” said
Fiascone.
“At Habitat, we’re highly
vested in our diverse portfolio and the well-being of our residents, so we’re
excited to bring the same quality of service to these properties – as we do to
our luxury and market-rate communities.”
For a complete copy of the company’s news release,
please contact:
Kim Manning,
kmanning@taylorjohnson.com, (312) 267-4527
Rebecca Boykin,
rboykin@taylorjohnson.com, (312) 267-4523
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