{"id":8118,"date":"2016-08-19T11:55:09","date_gmt":"2016-08-19T16:55:09","guid":{"rendered":"https:\/\/resurrectionproject.org\/?p=8118"},"modified":"2020-01-04T18:46:17","modified_gmt":"2020-01-04T18:46:17","slug":"trp-anounces-acquisition-hotel-lugo-preserving-single-room-occupancy-pilsen-residents-will-access-resources","status":"publish","type":"post","link":"https:\/\/resurrectionproject.org\/es\/trp-anounces-acquisition-hotel-lugo-preserving-single-room-occupancy-pilsen-residents-will-access-resources\/","title":{"rendered":"TRP announces acquisition of Hotel Lugo, preserving the only single room occupancy in Pilsen"},"content":{"rendered":"

FOR IMMEDIATE RELEASE:<\/strong>
\nMEDIA CONTACTS:<\/strong>
\nDiana Pando, 312.880.1140
\ndpando@resurrectionproject.org<\/a>
\nMaria Jimenez, 312.880-1882
\nmjimenez@resurrectionproject.org<\/a><\/p>\n

TRP ANNOUNCES ACQUISITION OF HOTEL LUGO, <\/strong>PRESERVING THE ONLY SINGLE ROOM OCCUPANCY (SRO) IN PILSEN<\/strong><\/p>\n

Residents Will Have Access To More Resources <\/em><\/p>\n

CHICAGO, ILLINOIS (August 19, 2016) \u2013 The Resurrection Project (TRP) announces the acquisition of Hotel Lugo, the only Single Room Occupancy (SRO) operating in Pilsen, granting affordable housing to underserved community members, some in severe risk of homelessness.
\nOn Tuesday, August 23 at 1PM there will be a press event to relaunch the SRO as TRP\u2019s Casa del Sol <\/em>(2008 South Blue Island, Chicago, IL 60608).<\/strong>
\nAs new developments emerge in Pilsen, residents are concerned about the rising cost of housing. This may eventually force local residents out of their homes because they are unable to afford the high rents.
\nThis 54-unit, three-story property is TRP\u2019s first project under the City of Chicago\u2019s Single-Room Occupancy Preservation Ordinance. The City Ordinance supports the preservation efforts of SRO properties through investment and various financing mechanisms that creates and preserves affordability for low and moderate income households.
\nAs a result of the TRP acquisition, Casa del Sol residents will have access to a full range of social services including financial capability workshops. These workshops will help residents develop budgets and learn more about other housing options. TRP will also be a liaison between the residents and other community organizations to provide them with much needed resources.
\n\u201cWhile SROs are in decline, TRP is working to preserve these valuable community assets instead of allowing them to be turned into high priced development projects.\u201d said Raul Raymundo, TRP\u2019s CEO. \u201cToday, Casa del Sol residents do not have to worry about being forced out due to higher rents. Instead, they will continue to have access to affordable housing.\u201d
\n\"\"Casa del Sol residents come from all walks of life and include veterans, people with disabilities and mental illnesses, homeless, and even low-income students. The SRO is a valuable resource to people who have fallen on hard times. One example is, Monica Mosqueda, was renting an apartment in Pilsen but could not afford the rising cost of rents.
\nToday, Monica is a resident of Casa del Sol. \u201cSROs give working class people a dignified and affordable place to live,\u201d noted Monica. \u201cIf a developer had purchased the building, I don\u2019t know if I could find housing that I could afford in the Pilsen community.\u201d
\nCasa del Sol will also be working with the San Jose Obrero Mission who is transitioning services from their Little Village location to Pilsen. The San Jose Obrero Mission is working with the City of Chicago and The Department of Family and Support Services (DFSS) to continue to provide housing within the SRO to homeless women who are being moved from the Little Village site.
\nPreservation of SROs is critical because there are few SRO buildings available city-wide. TRP continues its commitment to affordable housing and helping individuals who have fallen on hard times by providing them with opportunities to improve the quality of their lives.<\/p>\n

Financing for the acquisition of Casa del Sol was provided by Community Investment Corporation, the Chicago area\u2019s leading lender for the acquisition and rehab of affordable rental housing.\u00a0 Since 1984, CIC has provided $1.2 billion to finance 55,000 rental units, including many of Chicago\u2019s SRO properties.<\/span><\/p>\n

About The Resurrection Project <\/strong>
\nThe Resurrection Project began in 1990 with an initial seed capital of $30,000, which has leveraged into $431 million in community reinvestment through homes for ownership, rental housing and community facilities. TRP has empowered more than 56,600 individuals, developed 733 units of affordable housing, and created over 264,000 square feet of community commercial space, creating vibrant, healthier and involved communities. For more information about The Resurrection Project, please visit www.resurrectionproject.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

FOR IMMEDIATE RELEASE: MEDIA CONTACTS: Diana Pando, 312.880.1140 dpando@resurrectionproject.org Maria Jimenez, 312.880-1882 mjimenez@resurrectionproject.org TRP ANNOUNCES ACQUISITION OF HOTEL LUGO, PRESERVING THE ONLY SINGLE ROOM OCCUPANCY (SRO) IN PILSEN Residents Will Have Access To More Resources CHICAGO, ILLINOIS (August 19, 2016) \u2013 The Resurrection Project (TRP) announces the acquisition of Hotel Lugo, the only Single Room […]<\/p>\n","protected":false},"author":1,"featured_media":10995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"class_list":["post-8118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trp-news"],"yoast_head":"\nTRP announces acquisition of Hotel Lugo, preserving the only single room occupancy in Pilsen | The Resurrection Project<\/title>\n<meta name=\"description\" content=\"FOR IMMEDIATE RELEASE: MEDIA CONTACTS: Diana 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