Wilson Yard arrives in Uptown

Like it or not, Wilson Yard is here. The mayor, Alderman Shiller, and developer Peter Holsten were on hand to cut the ribbon on the massive mixed-income / mixed-use development in Uptown yesterday morning, marking this weekend’s debut of Wilson Yard’s Target department store as well as the recent opening of 178 affordable homes – 80 “family apartments” at 1026 W Montrose Ave with one, two and three bedrooms, and 98 one-bedroom rentals for seniors at 1032 W Montrose Ave.

Rents for the family apartments range from $670 to $1,050 a month and include most utilities. The homes are open to applicants who make 60 percent or less of the area median income, or $36,060 for a two-person household in Cook County. Occupancy is already at 70 percent, according to City Hall.

Rents for senior homes will be $650 a month. Senior applicants must be 55 or older and earn at or below 50 percent of the area median income ($26,300 for one person). The senior homes were funded by $20 million in tax exempt bonds, $6.8 million in loans, and $11.7 million in TIF money.

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