Mercy Housing Lakefront has won the Polk Brothers Foundation Affordable Rental Housing Preservation Award in the most recent round of the Chicago Neighborhood Development Awards! The project received recognition for its innovative rehabilitation of the Miriam Apartments project in the Uptown neighborhood of Chicago. The development was completed in 2020, and seeks to assist severely low-income residents of the area, with virtually all having experienced homelessness in their lives.
The Mercy team redesigned the space with input from the existing tenants, retrofitting the building to accommodate 66 studio apartments. Each unit has its own kitchen, bathroom, and heat/air-conditioning. The construction effort was recognized for its vital role in preserving housing for at-risk Chicagoans while maintaining its historic footprint, being able to qualify for and utilize historic tax credits in addition to low-income housing resources.
A big congratulations to the entire Mercy team for well-deserved recognition, and Clocktower was proud to assist by providing the state tax credit equity component to help facilitate the rehabilitation. If you have any questions on how this was accomplished, or have similar projects seeking a tax credit equity source for an ambitious development, please reach out to Clocktower’s Midwest associate, David Curtis at (978) 440-0742 or DCurtis@ClocktowerTC.com.