Belray Apartments awarded LIHTC funding

The City of Chicago has awarded LIHTC funding to Belray Apartments at 3150 N. Racine. Located at the corner of N. Racine Ave and W. Belmont Ave, the project will incorporate the existing Belray Apartments and replace an adjacent surface parking lot. Mercy Housing is leading the development.

Designed by LBBA Architects, the project will renovate the existing Belray Apartments and build an addition, increasing the unit count from 70 to 86. Planned to be 100% affordable, the unit mix will consist of 70 SRO units at 0-30% AMI, 11 SRO units at 0-50% AMI, and a final 5 one-bedroom units at 30-60% AMI.

The existing building will be fully rehabilitated with an exterior restoration of the stonework with new windows. On the interior, all of the units will be renovated to modern standards, with new hallways and lounge spaces. The new addition is set to link to the new building, replacing the existing parking lot. Designed to be respectful but modern, the addition will continue a similar scale along the block and reference the existing building in design. The facade will mimic the proportions and scale of windows in the original structure.

A new storefront space will front W. Belmont Ave in the addition while ground floor space in the existing building that used to hold units will now be home to new community and amenity spaces. The residential entry will remain along N. Racine Ave. 

To meet sustainability requirements, the project will meet Enterprise Green Communities and exceed energy code. The developer received approval to rezone the site from M1-2 to B2-3 back in 2022. A timeline for the construction has not been announced.