
Jonathan Rose Companies, POAH JV on Woodlawn Apartments
Jonathan Rose Companies has acquired Jackson Park Terrace, a 318-unit affordable apartment complex across the street from the future. Obama Presidential Center. Located in Woodlawn at 6040 S. Harper Ave., the property was acquired by the Rose Affordable Housing Preservation Fund V in a $25-million joint venture with Preservation of Affordable Housing (POAH).
Built in 1973, Jackson Park Terrace was developed by the Woodlawn Community Development Corporation, one of the nation’s first community development corporations, led at the time by Bishop Arthur Brazier and activist Reverend Leon Finney.
Rose and POAH presented a plan to elected officials, residents, and advocacy organizations to preserve the property as affordable in the rapidly changing Chicago neighborhood. “We feel that it is both an obligation and a privilege to preserve this historic development,“ said Nathan D. Taft, partner at Jonathan Rose Companies, who led the negotiations.
- ◦Sale/Acquisition