The Habitat Company, a leading multifamily property developer and manager in the United States, announced it has been awarded the property management contract for Park Boulevard IIB, a 108-unit, mixed-use development in Chicago’s Bronzeville neighborhood.
Park Boulevard IIB is the second phase in a four-phase project funded by the Stateway Gardens HOPE VI Grant, a program created by the federal government that provides cities with funds to replace dilapidated public housing with newly built mixed-income communities. Park Boulevard IIB is part of an effort led by the City of Chicago to revitalize south State Street and the Bronzeville neighborhood, providing residents with economic growth opportunities and increasing area marketability.
“This assignment reinforces The Habitat Company’s enduring commitment to provide a superior level of service at all the properties we manage,” said Sheila Byrne, executive vice president of property management at Chicago-based The Habitat Company. “We’re so proud to be involved with Park Boulevard IIB and honored to have the opportunity to promote positive change and make a lasting impact on the Bronzeville neighborhood.”
Park Boulevard IIB includes 108 mixed-income units, of which 37 are market rate, 34 are affordable and 37 are public housing, bringing the total number of mixed-income housing units at the former Stateway Gardens public housing site to 475. The project, which also includes 5,762 sq. ft. of commercial space, represents the latest milestone in Mayor Emanuel’s efforts to promote the development of affordable housing near critical resources including transit, retail and job opportunities.
“Park Boulevard is another new chapter in the economic comeback story being written here in Bronzeville by the residents and community partners of Bronzeville,” said Chicago Mayor Rahm Emanuel, who along with Julian Castro, secretary of the U.S. Department of Housing and Urban Development, and Eugene Jones, Jr., acting CEO of the Chicago Housing Authority, opened the second completed phase of Park Boulevard at a ribbon cutting ceremony on Wednesday, July 8. “With this ribbon cutting, we are opening the front doors of homes for hardworking Chicago families, but also opening up new opportunities and new possibilities for the neighborhood.”
Park Boulevard IIB, designed by global architecture firm VOA Associates, will achieve a Chicago Green Homes rating of three stars. The one-, two- and three-bedroom units, ranging in size from 706 to 1,375 square feet, feature energy-efficient appliances, floor-to-ceiling windows, individual heat and air, wood cabinets, well-appointed bathrooms, spacious closets, storage and park views. Select units also include in-unit washers and dryers. Building amenities include on-site maintenance and management, an elevator, assigned parking and laundry facilities.
Located near 37th and State Street, Park Boulevard IIB is conveniently located close to the Illinois Institute of Technology, the University of Illinois at Chicago, and is 10 minutes from downtown.
For leasing information, contact 844.665.1261 or visit www.parkboulevardiib.com.
About The Habitat Company
Founded in 1971, The Habitat Company is a full-service residential real estate company specializing in property management, acquisitions and development. One of the largest residential property developers and managers in the United States, with over $2 billion in assets and more than 20,000 units under management across five states, the company’s portfolio spans a range of property types, from mid- and high rise condominium, apartment and adaptive reuse developments to student, senior and affordable housing communities. Headquartered in Chicago, with more than 700 employees throughout the United States, Habitat is dedicated to improving the communities it serves through innovation and a commitment to excellence. For more information, visit www.habitat.com.
The Habitat Company recently added Park Boulevard IIB, a mixed-income community located at 3720 S. Dearborn in Chicago’s Bronzeville neighborhood, to its third-party property management portfolio.