Update: Rosenwald TAP - Panel OKs subsidies for Bronzeville redevelopment project
July 11, 2012
July 11, 2012 – Crain’s Chicago Business – Redevelopment plans are on the books for the historic Rosenwald Apartments – the subject of a 2010 ULI Chicago Technical Assistance Panel. The Chicago Community Development Commission last week approved a mixed-income housing rehab for the 465,000 s.f. site. Pending City Council approval, redevelopment financing will include $25 million in TIF funding, a $58.5 million tax-exempt bond issue, a $5 million loan and a nearly $154,995 land writedown on the property, which the city owns.