Rosenwald Apartments proposal advances toward TIF funding

Last October we marveled at a proposal to revive the long-vacant landmark Rosenwald Apartments at 47th and Michigan at a cost of just over half a million dollars per unit.

Plans for the project took a major step forward yesterday when Chicago’s Community Development Commission voted to recommend that it receive up to $25 million in tax-increment financing.

We’ve been in contact with members of Rosenwald for All, a group of concerned neighbors who view the current proposal as “socially irresponsible and incomprehensible.”

I’ll be meeting members of Rosenwald for All on Saturday for a video look at the Rosenwald site and the neighborhood. In the meantime, you can read the statement (pdf) the group submitted to the Community Development Commission prior to its vote.