chicagodads

There is going to be a public meeting with Alderman Rey Colon at Funston Elementary School this Wednesday to discuss the future of a group of affordable apartments for rent around West Armitage Avenue. The Zapata Apartments are to be four multi-apartment buildings (totaling 75 rental units in all) on presently vacant lots with three properties between the blocks of 3200 West - 3500 West Armitage and the fourth (still under negotiation) at the block of 3700 Cortland.

The Logan Square Neighborhood Association and Bickerdike Redevelopment Corporation have teamed up together and are working with the city to create this feasible project to keep families in the neighborhoods at a reasonable and sustainable rate for all.

Now, here’s the beauty of it: the economics. The LSNA and BRC expect to creat 87 jobs and generate $6,500,000 in income and $2,500,000 in tax revenue.. Now, of course, that’s just in the building of the homes (which, unlike a lot of other new buildings around these parts, can actually be filled.) Furthermore, these spaces would be rented out to working families making between $20,000 to 44,000 a year, so there are many other, sustainable economic benefits in raising these buildings (not to mention some environmental, etc.) that I’d like to hit on tomorrow through Wednesday.

The meeting is at 6pm at Funston Elementary School, 2010 N. Central Park.  See you there!

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