Affordable housing project, Oso Apartments, tops out in Albany Park
After breaking ground just three months ago, Evergreen Real Estate Group, in partnership with the Chicago Housing Authority, has announced the topping-off of Oso Apartments, a 48-unit affordable rental community at 3435 W. Montrose Avenue in Chicago’s Albany Park neighborhood.
“Residents in the area are thrilled to see construction moving so quickly and the building really starting to come to life,” said 35th Ward Alderman Carlos Ramirez-Rosa. “The Oso Apartments development is going to fill a major void in our neighborhood for low- and middle-income families who want to live in this area but are in danger of being priced out.”
Located at the southwest corner of Montrose Avenue and Bernard Street, on land that was formerly vacant, the new five-story building will offer 32 one-bedroom and 16 two-bedroom apartments. Of the 48 apartments, 32 will be set aside for renters on CHA’s waiting list. Fourteen of the remaining units will be reserved for households earning up to 60 percent of the area median income while two units will be reserved for households earning up to 50 percent of AMI.