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Next Phase For Roosevelt Square

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Developer Related Midwest is hoping to build a pair of new apartment buildings as part of the Roosevelt Square development on the Near West Side. The buildings are planned for 1255 and 1355 W. Roosevelt Road, on land that was once occupied by the CHA's ABLA Homes. Of the 120 apartments they'll house, only 20 percent will be set aside as CHA public housing units, while the remaining 80 percent will be market rate. This breakdown isn't quite in keeping with the CHA's Plan For Transformation, which stipulates that all replacement housing should be one-third market-rate, one-third affordable, one-third public housing. “We believe that this is the clearest path for us to start building again,” Related president Curt Bailey said at a recent meeting. Most of the project's $30 million price tag will be covered by TIF funds, with Related ponying up about $5 million. Completion is expected in about two years. [Chicago Journal]