(Chicago) – The Community Builders (TCB), Granite Development, Ujima, the Chicago Department of Housing, 4th Ward Alderman Sophia King, the Chicago Housing Authority (CHA), and UnitedHealth Group (NYSE: UNH) today celebrated the completion of 508 Pershing, a mixed-income, mixed-use development. 508 Pershing is the latest phase of Oakwood Shores, an over 100-acre mixed-use, mixed-income, revitalization effort replacing distressed public housing with homes and community amenities for households of varying incomes and sizes. Since 2003, there have been nearly 900 homes created at Oakwood Shores.
“Our development team is proud to open the doors at 508 Pershing, a mixed-income, mixed-use development contributing to Bronzeville’s ongoing revitalization. 508 Pershing, with its thoughtful design and numerous amenities, will attract and serve individuals and small families looking to move to or stay in Bronzeville,” said Kemena Brooks, TCB Midwest director of development. “On behalf of The Community Builders, I extend my deepest thanks and a well-earned congratulations to the many partners, stakeholders and neighbors who made this development possible, including the City of Chicago, Alderman King, the CHA, and especially the individuals and families that now call 508 Pershing home. We look forward to also meeting a community need by delivering ground floor restaurant and retail space along an important neighborhood corridor.”
508 Pershing features 53 apartments for both market rate and households earning from 80% to below 30% of area median income, including 20 apartments for CHA residents. The development also features 3,200 square feet of ground floor retail space along with on-site management offices.
Resident amenities include a fitness center, resident lounge, a dog spa and an outdoor patio. In addition, residents at Oakwood Shores are well served by a nearby grocery store, new bank, and the Arts and Rec Center at Ellis Park. The TCB Community Life team is also on-site to connect residents to opportunity in six areas: workforce development, asset building, community engagement, youth development, education, and health and wellness.
508 Pershing initiates the next stage of Oakwood Shores, which will include hundreds of homes for rent and for-sale, along with additional amenities. Oakwood Shores, a 100-acre redevelopment, has been implemented over decades of collaboration amongst public agencies, private organizations and institutions, and an exceptional group of community stakeholders.
“Bronzeville was once the center of life for Black Chicagoans – where we lived, shopped, worked, dined and gathered together,” said Alderman Sophia King (4th Ward). “As Bronzeville continues to be revitalized, we are happy to add 508 E. Pershing to a cadre of developments in the area. 508 E. Pershing also helps to fulfill our commitment to the return of CHA units to this property which will have 20 CHA units, 16 market rate and 17 affordable units.”
“Creating vibrant neighborhoods that serve residents and entire neighborhoods takes partnerships and comprehensive development designed to meet both current need and future expansion,” said DOH Commissioner Marisa Novara. “This latest phase of 508 Pershing with 53 mixed-income units and 3,500 square feet of retail space will not only serve residents now but continue to spur growth and investment and for years to come.”
“CHA is proud to work with partners, like Community Builders, Granite Development and Ujima, to invest in creating mixed-use, mixed-income environments that catalyze families’ growth, health and economic independence,” said CHA CEO Tracey Scott. “When CHA invests in new construction, we are not replacing the public housing of the past, we are building strong communities that can sustain themselves for the future.”
“We know that access to safe and affordable housing is a foundational need for better health,” said Tom Kunst, CEO, UnitedHealthcare of Illinois. “That’s why we continue to invest in projects like this one, which will help Chicagoans live healthier lives.”
“Together, our investments at Oakwood Shores are building an impressive mixed-income neighborhood that is helping to spur ongoing reinvestments in Bronzeville,” added Brooks. “We will continue to work with our partners to further strengthen the community and make it an even better place for people of varying incomes to live, work and thrive.”
508 Pershing was only possible because of funding provided by the Chicago Department of Housing, CHA, BMO Harris, the National Affordable Housing Trust (NAHT), UnitedHealthcare, Benefit Chicago, U.S. Bank and ComEd. The total cost of the project is $24.3 million.
McHugh BMI, a joint venture between McHugh Construction and Brown and Momen, a minority-owned business enterprise (MBE), led construction of 508 Pershing, with design by architecture firms NIA Architects, an MBE, and Antunovich Associates.
About The Community Builders
The Community Builders’ mission is to build and sustain strong communities where all people can thrive. Our mission-driven businesses work with partners to develop, finance and operate residential communities, neighborhood amenities and opportunity programs for families, seniors and adults with disabilities. Since 1964, we have advanced housing equity through award-winning affordable and mixed-income communities and our pioneering Community Life model for resident success. Today, our ownership and management portfolio include over 14,000 apartment homes. Anchored by offices in Boston, Chicago, Columbus, New York and Washington D.C., we operate across 15 states.
TCB Midwest has been leading large scale, mixed‐use, mixed‐income revitalization in Chicagoland for over 20 years. TCB Midwest has successfully developed over 1,750 residential units with another 300 units under construction. In addition to the residential development, TCB Chicago has also developed impactful commercial and public amenities, including a school of the performing arts, a medical center, grocery store, small retail shops, restaurants, a neighborhood event and meeting center, workspace for artists, and (we humbly suggest) the best Chicago Park District field house in the City, the Arts and Rec Center at Ellis Park. https://tcbinc.org | @tcbcommunities
About the Chicago Housing Authority (CHA)
The CHA’s vision is to foster strong, vibrant communities throughout Chicago by increasing affordable housing choices for low-income families. The CHA is also the largest rental housing owner in the City of Chicago. It serves more than 133,000 people in 63,000 households across the city through our Public Housing, Housing Choice Voucher, and Project-Based Voucher programs. For more information, visit http://www.thecha.org/.
About UnitedHealth Group
UnitedHealth Group (NYSE: UNH) is a health care and well-being company with a mission to help people live healthier lives and help make the health system work better for everyone through two distinct and complementary businesses. Optum delivers care aided by technology and data, empowering people, partners and providers with the guidance and tools they need to achieve better health. UnitedHealthcare offers a full range of health benefits, enabling affordable coverage, simplifying the health care experience and delivering access to high-quality care. Visit UnitedHealth Group at https://www.unitedhealthgroup.com/ and follow @UnitedHealthGrp on Twitter.