TRP to Reinvest and Preserve 155 Units of Affordable Housing in the Communities We Serve
Casa Veracruz is The Resurrection Project’s reinvestment and preservation of 155 units of affordable housing in the Pilsen, Little Village, and Back of the Yards neighborhoods. The project will allow TRP to continue offering quality housing to serve the community for decades to come.
In total, Casa Veracruz will refinance, improve, and preserve 15 buildings scattered across 14 sites currently owned and managed by The Resurrection Project. 108 of the units are LIHTC properties that have reached the end of their compliance period and 49 units are currently rent restricted properties that had been previously financed by the City of Chicago.
The properties will receive a moderate rehabilitation with construction spending averaging $50,000 per door. The strategically targeted work will address needed updates for the continued quality and permanently affordable operation of the rental buildings into the future. Casa Veracruz will impact families who earn between 30-60% of Area Media Income (AMI) and will invest into the homes of over 500 individuals.
The following properties will be affected by this rehabilitation:
1910 South Albany
2124 W. 19th St.
2243 S. Central Park
Casa Tabasco, 2301 S. Drake
Casa Sor Juana, 2700 S. Drake
Casa San Luis, 1640 S. Throop
Casa Puebla, 2014 S. Racine
Casa Oaxaca, 1714 W. 19th St.
Casa Monterrey, 967 W. 19th St.
Casa Hidalgo, 4600 S. Wood
Casa Guerrero, 963 W. Cullerton
Casa Guanajuato, 1313 W. 19th St.
Casa Chiapas, 1712 W. 17th St.
Casa Colima, 1427 W. Cullerton
Frequently Asked Questions:
What is the rehab work being done and when?
The rehab work will vary depending on building and unit. We will prioritize and address the exterior and common areas in most critical disrepair. Similarly, we have walked every unit and identified the items that need repairs most. The repairs and updates will include but are not limited to roof repairs, porch repairs, leaky windows, structural issues, and mechanical system repairs. We are working with the City of Chicago on exact timing and our current target is no earlier than March 2019.
Why is the work being done?
The last time TRP rehabbed most of these properties was over ten years ago. Although we have tried to keep up with the buildings, many of the systems in place need to be replaced. Doing so is important as it allows for TRP to continue to offer quality housing and affordable rates. The purpose of this rehab project is to make the necessary improvements to these 155 units for use by you – our valued residents for many years to come.
Will I need to re-qualify for my unit? If so, why?
Yes, you will need to re-qualify for your unit. This project is funded by HUD HOME, IHDA, and other low-income housing funds targeted for low income families. We are recommitting these units to low-income qualified households with similar financing. The same program rules in your lease are the rules we must follow.
Will I somehow lose my apartment or will my rent increase because of this rehab project?
All low-income qualified households will be eligible for a unit within the redevelopment. Our goal is to return every tenant to their current unit. Each household’s specific needs will be addressed. We will work to keep any family who no longer qualifies as low-income within the community.
Your rent will not increase because of this rehab project. The City of Chicago publishes rent limits annually and all of the programs that fund this redevelopment must comply and not exceed those rent limits.
Since federal financial assistance will be provided for the project, you will be protected by a federal law known as the Uniform Relocation Assistance and Real Property Acquisition Policies Act (URA).
How long will I be temporarily relocated during the rehab?
We anticipate that the work being done in each tenant unit will take approximately two weeks. Suitable housing will be made available to you and you will be reimbursed for all reasonable out of pocket expenses, including moving costs and any increase in housing costs. You will need to continue to pay your rent and comply with all other lease terms and conditions.
How is TRP supporting tenants throughout this process?
We are committed to making this inconvenience as seamless as possible. Our property managers and main office will be at your disposal throughout this process. We have also contracted Urban Relocation Services who specialize in relocation services and will work with you during this process. For those that no longer qualify for this program, TRP will work with you to find alternative housing in the community.
Will there be any other assistance provided by this project?
There are 60 new project based vouchers that will be made available to this project targeting the lowest income units in this redevelopment. Those who qualify will receive a project voucher which may lower your cash rent payment amount.