HISTORIC MARK TWAIN REOPENS IN CHICAGO

摘要

The Mark Twain, a renovated and restored landmark building and one of the largest remaining single room occupancy (SRO) affordable housing developments on Chicago's Near North Side, has reopened. The $54.3 million renovation at 111 W. Division Street consists of 148 apartments, each equipped with rehabilitated private bathrooms and the addition of private kitchenettes. Other enhancements include all new plumbing, mechanical and electrical systems; a rooftop deck, restoration of the vintage facade and lobby and 9,600 square feet of upgraded retail space on the ground floor. Fifty residents who lived at the Mark Twain before the rehabilitation project began have returned to the renovated and restored building. The remaining apartments will be leased to people from CHA's waitlist Rental assistance in the form of project-based vouchers will be provided by CHA for each of the 148 units. The City's contribution included issuance of $27.3 million in multi-family housing revenue bonds, a $5 million multi-family loan and $1.3 million in Low Income Housing Tax Credits that generated $12.7 million in equity. The developer, non-profit group, NHP which invests in the preservation of affordable housing citywide, acquired the property in 2016 as part of the City's SRO Preservation Initiative.