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.

(Visited 139 times, 1 visits today)