Much of what amounts to news about mixed-income developments right now emerges from small community meetings, which we rarely have the time to attend in person. In the case of Roosevelt Square, I know I can get the latest scoop from publications like the Chicago Journal and Gazette Chicago.
The Gazette this morning reported on the latest back-and-forth between Near West Side residents and developer Related Midwest over the the methods of funding at Roosevelt Square and the nature and conditions of the development’s existing and proposed rental units.
In short, some Near West Siders think the continued use of TIF dollars will result only in the construction of low-income homes, which will result in more crime and make Roosevelt Square’s market-rate apartments and condos less desirable for those who could afford them. Related reps and owners at Roosevelt Square are countering that a TIF extension is the only way to keep construction going and to build a community out of what is currently a few buildings scattered amidst many empty lots.
The next phase of Roosevelt Square calls for 193 condos and two 60-unit apartment buildings, the article says.