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Two Groups Adding 79 Units in East Garfield Park

CHICAGO-Gen One Group and Hispanic Housing Development Corp. will pay the city a combined $1.1 million for 35 lots, where they will build multifamily projects totaling $19 million.

By Mark Ruda | Updated on May 25, 2005

CHICAGO-Gen One Group and Hispanic Housing Development Corp. will build 79 multifamily units on 35 scattered sites in the East Garfield Park community. The city will sell sites it owns, ranging from 1,900 sf to 7,200 sf, for a combined $1.1 million, near its target price.

The combined $19-million project will fill in vacant sites from California to Kedzie avenues, Grand Avenue and Washington Boulevard. Gen One Group will build 39 units, mostly in two-flat and three-flat buildings on 18 parcels while Hispanic Housing Development Corp. will build 40 units on 17 parcels. Hispanic Housing Development Corp. will make four of the units affordable under the city’s housing initiative, but company and city officials note the price range of $210,000 to $240,000 for 1,250-sf to 1,300-sf units already could be considered affordable. Meanwhile, Gen One Group plans to sell its condominiums, ranging from 1,400 sf to 2,300 sf, for an average of $230,000. However, it will offer a two-flat model at $330,000, which will include a rental unit that likely will offer an affordable housing opportunity, the developer says.

The land sale and project was endorsed Tuesday by the community development commission. “This development is long overdue,” says 27th Ward Alderman Walter Burnett. “This is an area that’s sort of hidden, but it’s a jewel to the community.”

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