The Chicago City Council has approved the issuance of up to $14 million in tax-exempt multifamily housing revenue bonds to finance the acquisition and rehabilitation of the Martha Washington Apartments. The project, located at 2324 W. Irving Park Rd., is a five-story, 104-unit building dedicated to affordable housing. All units will be reserved for households earning no more than 80% of the area median income (AMI), with at least 40% of the units for those at or below 60% AMI. The development consists of 4 studio, 87 one-bedroom, and 13 two-bedroom apartments. The bonds are part of a larger financing package that enables the preservation of this critical affordable housing asset.