City Council approves city funding for SACRED Apartments

The Chicago City Council has approved city funding for SACRED Apartments, a mixed-use development at 9200 S. Burley. Planned by Interfaith Housing Development Corporation and Claretian Associates, the project site sits at the southwest corner of E. 92nd St and S. Burley Ave. The property is currently made up of a long-vacant parcel along S. Burley Ave and two heavily deteriorated buildings along E. 92nd St that will be demolished. 

With LBBA Architects in charge of the design, the project is planned to produce a five-story mixed-use building. Expected to offer 81 affordable housing units, the building will be split up into 15 studios, 11 one-beds, 21 two-beds, 25 three-beds, and 9 four-bedroom apartments. 17 of the units will be targeted at 30% AMI, 48 will be priced at 50% AMI, and the final 16 will be marketed at 60% AMI. 

At the ground floor, a 6,500 square-foot commercial space will potentially hold a grocery store fronting E. 92nd St. Residential units will occupy the south wing of the ground floor, with the residential entry announced via a small canopy and large mural on the facade. A parking lot for 44 cars will occupy the southernmost end of the site, with an outdoor resident patio, playground, and multi-sport court located behind the building. 54 bike parking spaces will be placed in various locations around the site.

With an expected project cost of $47 million, the development will be funded with a list of sources including $4.7 million from a permanent mortgage, $7.2 million in Multi-Family Program funds, $1.3 million in Chicago Recovery Plan funds, $5 million in TIF funding, $4 million in IHDA Multi-Family Program funds, $20.8 million in LIHTC equity, and a $350,000 ComED Energy Grant.

With funding approved by the City Council, the development can look towards beginning construction. Permits have been filed for the new construction and are awaiting issuance.