Evanston’s City Council will be asked Monday to approve city staff’s recommendation of a developer to build a five-story mixed income housing project on a city-owned parking lot at South Boulevard and Hinman Avenue.
The developer selected from seven proposals received for the project is PIRHL Developers, LLC, a Cleveland, Ohio, firm with regional offices in Chicago and in Hamilton, New Jersey.
PIRHL’s plan calls for building 60 apartments — including 19 one-bedroom, 22 two-bedroom and 19 three-bedroom units.
A city staff memo says the development would include:
- 18 units with project-based vouchers rented to tenants earning no more than 30% of area median income.
- 30 units financed with low income housing tax credits and rented to tenants earning either 50% or 60% of AMI.
- 12 market-rate units.
The development site also includes four existing townhouse units owned by the Housing Authority of Cook County and the plans are scheduled for consideration by HACC’s board in April.
The plans also include providing a total of 65 parking spaces, including public parking to replace the spaces now leased in the city parking lot.
Financing for the project is expected to include nearly $14 million in low income housing tax credit funds and a $5.6 million first mortgage from the Illinois Housing Development Authority, with the rest of the $23.2 million total coming from a variety of other sources.
The city and HACC would also contribute ownership of the land to the development, which would be owned by PIRHL.
Once there’s agreement on the terms of the land sale, the project will have to go through the city’s usual development review process, including community meetings, Land Use Commission hearings and final City Council approval.