The City of Chicago has approved a redevelopment agreement with Oak-Larrabee LLC for the construction of a mixed-income housing project at 955 N Larrabee St. The agreement facilitates the development of affordable and market-rate residential units as part of the city’s efforts to expand housing accessibility. The approval, introduced by Mayor Brandon Johnson, was finalized on February 19, 2025.
This redevelopment project supports affordable housing initiatives while revitalizing an urban area. It aligns with Chicago’s housing policy goals and provides more equitable housing opportunities.