Lincoln Square Affordable Housing Development Finally Moves Forward As City Agrees To More Units, Less Parking
by Alex V. Hernandez / Block Club Chicago / July 15, 2022
City leaders previously said they did not want to use tax credits to subsidize public parking when their priority is maximizing affordable housing and encouraging public transit.
LINCOLN SQUARE — An affordable housing development in Lincoln Square that stalled for months due to a fight about parking is finally moving forward after local leaders and developers reached a compromise.
The affordable housing building at 4715 N. Western Ave. was redesigned to be six stories tall instead of five and have 65 affordable apartments instead of 51. A second-floor parking deck with have 36 spaces, half for residents and the rest for the public, down from 41 spaces.
Ald. Matt Martin (47th) and developer Community Builders announced the compromise in statements Thursday, saying the redesign is backed by community groups, business owners and city leaders, who are considering committing critical tax credits to make the building a reality. Read more HERE