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City Endorses Zoning Change for North Lawndale Plans

CHICAGO-New West Kedzie, LLC weighs 60-unit and 77-unit development plans with 20% of the units set aside for buyers qualifying under the city's affordable housing initiative.

By Mark Ruda | Updated on October 24, 2005

(To read more on the multifamily market, click here.)

CHICAGO-Five parcels in the 700 block of South Kedzie Avenue will be developed with market-rate and affordable housing, but the size of the project has yet to be set. New West Kedzie, LLC, the only developer to answer a request for proposals to build on the five properties totaling nearly 1.6 acres, is weighing plans calling for a 60-unit or 77-unit project.

New West Kedzie, LLC originally planned a 100-unit, $21.2-million project in August 2004, when it agreed to city-owned lots in the North Lawndale community for $1 million. New West Kedzie still is in line for a $3-million tax increment financing subsidy, according to Joseph Lopez of the Department of Planning and Development, to help offset the cost of setting aside 20% of the units for buyers qualifying under the city’s affordable housing initiative.

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