The ordinance approves the issuance of multi-family program funds and additional financial assistance for the Casa Yucatan affordable housing project at 2134-2136 S Ashland Avenue. The project will utilize a mix of funding sources, including a $13,411,450 loan and $9,622,794 in additional financial support, to construct affordable housing units targeting households earning below 80% of the area median income. The development is led by Casa Yucatan 4% LP, with The Resurrection Project as a key partner.
This project addresses the critical need for affordable housing in Chicago by creating accessible and safe living spaces for low-income families. It also reflects the city’s commitment to supporting equitable housing development and community revitalization.