Chicago’s Department of Housing will issue up to $13.5M in tax exempt bonds to
finance the development of CARE Manor
Financial measures introduced today at City Council by Mayor Brandon Johnson and
the Chicago Department of Housing (DOH) will support the development of CARE
Manor, a four-story building that will provide 44 dwelling units affordable to those
at 60% AMI and below in the West Garfield Park community. The City will issue up
to $13,500,000 in tax exempt bonds, as well as up to $11,500,000 in multi-family
loan funds.
The project, spearheaded by United for Better Living in partnership with Corinthian
Temple Church of God in Christ, will contribute to the city’s comprehensive plan to
expand affordable housing options on Chicago’s west side.
CARE Manor, to be located at 4531-55 W. Washington Blvd., is designed to blend
with the neighborhood’s existing architectural style, preserving the charm of the
older buildings in the area.
The development will consist of three one-bedroom units, 30 two-bedroom units,
and 11 three-bedroom units, catering to a diverse range of households. Notably,
100% of the units are adaptable, and 50% are specifically designed to accommodate
individuals with physical disabilities.
CARE Manor will also feature a range of amenities to enhance the quality of life for
its residents. These amenities include a community room equipped with a kitchen, a
management office, and on-site laundry facilities. Furthermore, the development
will offer 22 on-site parking spaces for the convenience of residents and visitors.
The issuance of up to $13,500,000 in tax exempt bonds will play a pivotal role in
financing CARE Manor’s construction. These bonds are projected to generate
approximately $1,168,503 in 4% tax credits, providing significant support to the
project’s viability.
CARE Manor is a ministry of the Corinthian Temple Church of God in Christ and will
sit directly across the street from the church’s community center.
