Formerly known as Parkview apartments, Fannie Emanuel is a 181-unit senior apartment building. This property was CHA’s first RAD conversion and part of their plan to modernize their senior properties, many of which are outdated, inefficient, and need improvements in accessibility to improve the wellbeing of senior residents. Due to the age of Parkview’s mechanical systems, a total redevelopment of the building was settled on as the best course of action. The new Fannie Emanuel apartment complex received much needed interior demolitions, extensive site improvements, new heating and electrical systems, new elevators and stairways, and asbestos removal.
The project’s renovations have been completed, and residents received contemporary kitchens and baths, new electrical wiring, and new dining areas with private access to garden spaces. Within the building, they also now have access to a fitness center, community room, a laundry room with high-efficiency washers and dryers that are free to residents, and a rooftop deck with beautiful views of the city’s skyline and Garfield Park.
She loves everything about Fannie Emanuel. It’s the first time she has lived in the city in 28 years, when she retired from working for the City of Chicago moved to the suburbs of Chicago: “I’m a people-person. I get along with everybody,” she said. “And everybody is cordial, ‘Good morning,’ ‘good evening.’ That’s beautiful. It’s just nice.”
The Caroline Hedger Apartments are a 449-unit building for senior residents that was converted through RAD in 2016. When CHA first applied for the RAD conversion, the property was undergoing a substantial rehabilitation, funded by CHA Public Housing Capital Funds and other MTW funds. In 2018, CHA refinanced the building through RAD allowing it to utilize 4% LIHTC equity and debt through a tax-exempt bond transaction. The proceeds from this transaction will allow CHA to continue with capital work needed at other buildings converting through RAD. Both the HUD local Chicago Multifamily Hub and the HUD RAD teams were key to this successful financing model.
Adjacent to the Caroline Hedger Apartments used to be a 50-car surface parking lot. Now, this land was transformed into the Concord at Sheridan, a 7-story new construction mixed-use, mixed-income building. At the base of the building is a garage with more 100 parking spaces and approximately 30,000 square feet of ground-level retail space, including a 23,000 square foot flexible format Target store. Above this, the Concord offers a total of 111 family units, 65 one-bedroom and 46 two-bedroom apartments. The Concord was the destination site for 65 family units of assisted housing through a RAD Transfer of Assistance, which is what made the Concord property economically feasible. These apartments are some of the highest in demand among applicants for CHA housing and the tenants have been extremely satisfied with their new apartments.
This story was written in collaboration with the Chicago Housing Authority. All photos were provided by the Chicago Housing Authority for use with permission.