City Council approves $9 million in TIF for Ogden Washtenaw A2

The City Council has approved $9 million in TIF funding for Ogden Washtenaw A2, the latest phase of Ogden Commons. Located at 1312 S. Talman, the project is a collaboration between The Habitat Company, Lawndale Real Estate LLC, and Sinai Health System. 

As the third building of the larger Ogden Commons development, the development will consist of a 4-story residential building with 75 mixed-income units. The project’s unit mix will include 3 studios at 30% AMI, 9 one-beds at 30% AMI, 32 one-beds at 60% AMI, 10 two-beds at 60% AMI, 3 three-beds at 60% AMI, 7 market-rate studios, and 11 market-rate one-beds. Interior amenities will include a welcome lobby, computer room, and a fitness center. Every unit will have Energy Star-rated appliances.

Outside, the development will share landscaped outdoor areas with a patio area, a children’s play area, and walkways throughout the entire project area with the first residential phase at 1325 S. Washtenaw which is currently under construction.

The $38.5 million development will be funded with $4 million from a first mortgage lender, $9 million in TIF funding, $9.95 million from a CHA loan, $500,000 in Illinois donations, $14.5 million in LIHTC equity, and $570,000 from a deferred developer fee. CHA owns the land and has a long-term lease agreement with the developer for $1/year.

With approval from the City Council, the TIF funding and redevelopment agreement are now approved, and the development can move forward. Permits for the new construction have been filed and are awaiting issuance.