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GlobeSt.com UPDATE: Opponents Say 178 Units Planned for 'Wrong Place'

CHICAGO-Even proponents of affordable housing question whether 178 affordable rental units belong in two seven-story buildings in the Wilson Yards redevelopment.

By Mark Ruda | Updated on August 22, 2005

CHICAGO-The future of Wilson Yards looks too much like a vestige of the city’s since-razed high-rise public housing projects, opponents say. Holsten Real Estate Development Corp. hopes to build 178 affordable rental units in two buildings, one earmarked for senior citizens and the other for families, as part of the $113-million redevelopment of the 5.7-acre site at Montrose Avenue and Broadway Street.

Developer Peter Holsten won an endorsement Thursday to increase the number of units in his project from 150, but by a rare 6-2 vote by the plan commission. The city’s tax increment financing also is expected to jump from $26.5 million to $35.5 million.

“I think this is exactly the right type of project for tax increment financing,” says plan commission member Nancy A. Pacher, the only member to vote against Holsten’s earlier plan in December 2004. “But I do not think you should concentrate poverty, whether it be elderly or otherwise.”

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