Owners of two proposed planned developments in Evanston have agreed to provide subsidized housing as part of their projects — with a mix of on-site and off-site solutions.
At the 1571 Maple Ave. project, which is up for a possible final vote by aldermen tonight, the developers have agreed to provide two one-bedroom units on site to households earning no more than 100 percent of area median income.
Area median income varies by household size, but for a two-person household, 100 percent of AMI currently is $60,800. And the maximum permissible affordable monthly rent for a one-bedroom apartment at that income level is considered to be $1,331.
By contrast, market-rate rents for one-bedroom apartments in the project are expected to range from $1,900 to $2,302 depending on unit size.
In addition, the developer of the 101 unit rental development on what's now a vacant lot has agreed to contribute $400,000 toward the city's affordable housing fund, which a city staff memo says would be distributed to a local non-profit affordable housing developer to be named later for acquisition or rehabilitation of units in the downtown area.
At the City Council's last meeting, on March 23, aldermen voiced dissatisfaction with what then was proposed by the deveopers as a $120,000 contribution to the affordable housing fund with no on-site subsidized units. The new proposal was developed in negotiations with city staff since that meeting.
City staff and the Plan Commission have recommended approval of the project, which will provide most of its required parking by leasing spaces at the under-utilized city garage on Maple Avenue, two blocks north of the development site.
A rendering of the 1620 Central St. development.
Up for introduction tonight before the City Council is a planned 47-unit rental development at 1620 Central St. that would replace a vacant two-story office building on the site.
The developers there are proposing to include two on-site subsidized one bedroom units to households who make no more than 100 percent of area median income.
Market-rate rents for the Central Street building are expected to range from $1,356 to $1,786 depending on unit size.