Full building permit issued for 1237 N. California

A full building permit has been issued for the all-affordable residential development at 1237 N. California. Located at the northeast corner of N. California Ave and W. Crystal St, the vacant site is located across the street from Humboldt Park. Hispanic Housing Development Corporation is leading the project. 

With DesignBridge serving as the architect, the six-story building will hold 40 affordable rental apartments at or below 80% AMI. The project’s unit mix will be made up of 10 one-beds, 25 two-beds, and five three-bedroom apartments.

The ground floor of the building will have the residential lobby facing N. California Ave with tenant amenities and parking in the rear. 14 parking spaces will be located inside an interior garage with an additional 7 exterior parking spaces. 40 bike parking spaces will be included in an enclosed bike room.

With a total estimated cost of $44 million, the now approved city funding comes as $8.7 million in Multi-Family Program Funds. The remaining funding would come from a $13.3 million senior construction loan, a $3.6 million senior permanent loan, a $2.98 million IHDA HTF loan, $190,000 in seller notes, a $175,000 ComEd Energy Grant, $14.27 million in LIHTC funding, and a $775,000 deferred developer fee.

With the building permit issued, general contractor Path Construction Company can begin construction and work through completion.