POAH Plans Two-Phase Affordable Complex in East Garfield Park
Boston-based Preservation of Affordable Housing Inc. (POAH) plans to build Garfield Green, a 43-unit apartment building at 3155 W. Fifth Ave. in the East Garfield Park neighborhood on Chicago’s West Side, reported the Chicago Business Journal. The unit mix will consist of one- to three-bedroom units earmarked for renters earning up to 80% of area median income, which is $23,000 per year, according to census data.
Upon completing the first phase of development, the nonprofit plans to build a second residential building across the street as a cooperative development.
“That [co-op] piece would come later. For now, we are concentrating on phase one,” Bill Eager, POAH’s SVP of real estate development for the Midwest region, told the Business Journal. “By having a co-op development, it will allow residents to have ownership in where they live.”
Phase one construction is expected to start next April, with completion slated for spring 2024.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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