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Habitat Deepens Affordable Housing Portfolio

CHICAGO—The company has acquired an SRO that it first developed in 1994.

By Brian J. Rogal | brianjrogal | Updated on May 30, 2017

Habitat has managed this community in East Garfield Park for more than 20 years.

CHICAGO—Chicago-based The Habitat Co. has closed on the $16 million acquisition and rehabilitation of a 153-unit, single-room-occupancy community in Chicago’s East Garfield Park neighborhood. The firm has already started to renovate the property, and plans to complete the work in May 2018.

The new project is a good illustration of one aspect of the company’s overall strategy. As reported in GlobeSt.com, although it has set a goal of expanding operations beyond Chicago, Habitat also aims to retain its leadership in the local affordable housing sector.

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