Evergreen Real Estate Group and Chicago Housing Authority Celebrate Groundbreaking of 48-Unit Oso Apartments in Chicago’s Albany Park Neighborhood

  

Oso Apartments Groundbreaking:  From left: Jeffrey Rappin, founder and chairman of Evergreen Real Estate Group; Andre Pintauro, president of Evergreen Construction Company; Douglas Leezer, director at Citi Community Capital; John T. Hooker, Board Chairman at Chicago Housing Authority; Thomas Applegate, executive director at North River Commission; Andy Decoux, director of multifamily financing and business development at Illinois Housing Development Authority; David Block, director of development for Evergreen Real Estate Group; 35^th Ward Ald. Carlos Ramirez-Rosa; Jeanne Gieseke, assistant director at U.S Bancorp Community Development Corporation; Steve Rappin, president of Evergreen Real Estate Group; Jaime Torres, principal and founder of Canopy Architecture + Design; and Eric Meyer, project manager for Evergreen Real Estate Group.

CHICAGO, IL — Evergreen Real Estate Group, in partnership with the Chicago Housing Authority, announced the start of construction on Oso Apartments, a 48-unit affordable rental community at 3435 W. Montrose Ave. in Chicago’s Albany Park neighborhood.

35^th Ward Ald. Carlos Ramirez-Rosa speaks at the groundbreaking ceremony for Oso Apartments on Oct. 11.

Evergreen and CHA representatives joined 35^thWard Ald. Carlos Ramirez-Rosa, officials from the Illinois Housing Development Authority (IHDA) and other community stakeholders at a ceremonial groundbreaking on Oct. 11.

David Block

“Oso will provide much-needed housing for residents who want to be part of this economically vibrant, transit-served neighborhood without being burdened by the rapid rent increases that have created a need to preserve and create affordable housing in many Chicago communities,” said David Block, director of development at Evergreen Real Estate Group.

“With so much residential construction focused on the upper end of the market, there’s a growing need – in Albany Park and across Chicago – for housing that is affordable to low- and middle-income families who are the lifeblood of this city.”

Located at the southwest corner of Montrose Avenue and Bernard Street, the new five-story building will offer 32 one-bedroom and 16 two-bedroom apartments, with first move-ins scheduled for late summer 2019.

Of the 48 apartments, 32 will be set aside for renters on CHA’s waiting list. The remaining 16 units will be reserved for households earning up to 60 percent of the area median income.

Andre Pintauro

“CHA is pleased to work with Evergreen Real Estate Group, IHDA and Ald. Ramirez-Rosa in delivering greater housing opportunity to the Albany Park community,” said Eugene E. Jones Jr., CEO of CHA. “Oso Apartments are another piece of CHA’s commitment to bringing affordable housing to neighborhoods across the city.”

“Oso is truly a labor of love for the entire Evergreen team, and it is the result of a collaborative effort between the development and construction divisions,” said Andre Pintauro, president of Evergreen Construction Company.

“We’re proud to be part of such a transformative project that will replace a vacant lot with a modern structure that can serve as a model for future affordable housing development in infill locations.”

IHDA Executive Director Audra Hamernik added that the Oso Apartments will help meet a critical need for affordable housing in Chicago by transforming a vacant lot into a vibrant rental community for Albany Park families.

Audra Hamernik

“This partnership between stakeholders at the local, state and federal levels will not only result in the development of high-quality housing in the area, but also create economic and educational opportunities that will serve families in the neighborhood for years to come,” ​Hamernik said.

On-site amenities will include a public plaza at the corner of Montrose and Bernard, as well as a smaller landscaped area for residents, located on the west side of the property.

In addition, Oso will offer a large community room, in-building laundry and bike storage, and 22 parking spaces.

Eugene E. Jones

The development adheres to recommendations put forth in a 2017 study conducted by ULI Chicago, in partnership with the Chicago Metropolitan Agency for Planning, according to Block.

 The two-day workshop, which enlisted an 11-person panel of housing policy and legal experts, developers, lenders and community development professionals, focused on strategies for maintaining and building workforce housing affordable for middle-income households in Albany Park and adjacent neighborhoods – part of a broader plan prepared by CMAP and the North River Commission.

Designed by Chicago-based Canopy Architecture + Design, Oso will have a gray metal façade with bright yellow accents. The entrance will feature an art wall with a mural or mosaic design. 

The project is one of the latest ground-up developments built by Evergreen Construction Company, a division of Evergreen Real Estate Group.

CONTACTS:

 Kathryn Kjarsgaard, kkjarsgaard@taylorjohnson.com,

 (312) 267-4514

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528 

www.evergreenreg.com.