 |
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; 35th 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.
 |
| 35th Ward Ald. Carlos Ramirez-Rosa speaks at the groundbreaking ceremony for Oso Apartments on Oct. 11. |
Evergreen and CHA representatives joined 35thWard
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 |
“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 |
“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
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.
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
