The Renaissance Collaborative landed a full building permit for Abrams Intergenerational Village, a 71-unit project designed to mix seniors, children and students in one resident population.
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The unit mix of the building includes 25 two- and three-bedroom apartments for grandparents older than 55 raising minor grandchildren, 39 units for adults over 62 and seven units for young adult students who are housing insecure. All units will be affordable for households earning less than 60% of the area median income.
The six-story building at 5300 S. Calumet Ave. in Washington Park has an estimated $40.6M price tag, with the capital stack pulling from a variety of different sources. Financing is set to come in part from private debt, tax increment financing funds, state loan and tax credits, developer equity, and other grants and fees.
The property will feature onsite supportive services, staffed security, a library and computer room, a fitness center, a rooftop terrace and an optional communal living and dining space. The building was designed by Moody Nolan.
When the project was announced in 2022, Alderwoman Pat Dowell said, "It brings me great pride to support the Abrams Intergenerational Village project, which will undoubtedly improve the lives of countless seniors, children, and young adults in the 3rd Ward."
General contractor Ujamaa Construction can now start work on the new building, Urbanize Chicago reported. Once it begins, construction is expected to take about 16 months.
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