The Hispanic Housing Development Corp. celebrated the opening of an affordable apartment project in Humboldt Park on Wednesday, answering the community\u2019s call for more family-sized units in the rapidly gentrifying neighborhood.<\/p>\n
\u201cThese affordable apartments are going to enable 40 families to continue to call Humboldt Park home,\u201d Hispanic Housing Development Corp. CEO Tony Hernandez said.<\/p>\n
The project, at 1237 N. California Ave. across from Humboldt Park, is the second development the Hispanic Housing Development Corp. has recently opened in the West Side. The Pedro Albizu Campos Apartments, 1203 N. California Ave., opened in May 2024 with 64 affordable apartments. There\u2019s currently a waitlist for three-bedroom units at the Pedro Albizu Campos, according to the Hispanic Housing Development\u2019s website.<\/p>\n
Hernandez said the two projects \u2014 with more to come \u2014 represent \u201ca bulwark against the forces of gentrification that are displacing families from the community.\u201d <\/p>\n
The developer purchased the site at 1237 N. California from the Puerto Rican Parade Committee in 2019 for just over $1 million, property records show. <\/p>\n
The previous building \u201chad fallen into disrepair,\u201d Hernandez said, leading the company to respond to community calls to purchase and redevelop the site. Demolition took place soon after, and project partners broke ground on the cleared land in July 2024.<\/p>\n
Hispanic Housing Development Corp. CEO Tony Hernandez<\/p>\n<\/figcaption><\/div>\n<\/figure><\/div>\n<\/p><\/div>\n The six-story building has 10 one-bedroom units, 25 two-bedroom apartments and five three-bedroom units. And 18 units are eligible for housing voucher recipients, supported by the Chicago Housing Authority. The property also has a community room, indoor bicycle storage and laundry facility.<\/p>\n The larger apartments follow community calls for more family-sized units in the neighborhood, as westward development spreading to Humboldt Park raises rents and pushes long-time families out of the area. <\/p>\n Monthly rents at the new building range from $900 to $1,800, according to the project team. A two-bedroom apartment rents between $1,120 to $1,450.<\/p>\n The building is already fully leased \u2014 a sign of strong demand for affordable apartments in the neighborhood.<\/p>\n View of Humboldt Park from a two-bedroom apartment at 1237 N. California Ave.<\/p>\n<\/figcaption><\/div>\n<\/figure><\/div>\n<\/p><\/div>\n \u201cIt\u2019s no secret Humboldt Park is one of the fastest gentrifying neighborhoods in the city of Chicago,\u201d Ald. Jessie Fuentes (26th) said during the project\u2019s ribbon cutting ceremony. \u201cWhen we think about projects like this, we dream of a community where neighborhoods don\u2019t have to say goodbye to their childhood memories, or where children don\u2019t have to grow up in a neighborhood that their parents do not have ties in.\u201d<\/p>\n Nearly half of all Humboldt Park renters experience housing cost burdens, according to Heather Spray, who manages multifamily development for the Illinois Housing Development Authority. Nearly a third of residents spend more than half of their income on rent. Experts say renters should typically spend about one-third of their monthly income on rent.<\/p>\n \u201cOn a personal level, this means that residents may be forced to sacrifice money for food, health care and other necessities to keep their housing. On a community level, long-time residents move out of the area,\u201d Spray said. \u201cWe want to prevent both from happening.\u201d<\/p>\n The city of Chicago provided the bulk of the funding for the $32 million project, with a grant from IHDA helping to bridge the remaining funding gap. Merchants Capital, Freddie Mac and ComEd also supported the project.<\/p>\n Jose Lopez, executive director of the Puerto Rican Cultural Center, said the building\u2019s design is significant \u2014 something that can often be overlooked in affordable housing. The coqu\u00ed, a frog native to Puerto Rico, is featured in the building\u2019s artwork. A coqu\u00ed pin was also worn by project partners during the ribbon cutting. <\/p>\n \u201cIt\u2019s a very small toad that makes an amazingly beautiful song at night,\u201d Lopez said. \u201cFor Puerto Ricans, it\u2019s a very beloved, beloved symbol of who we are. Human beings are aesthetics and creative beings. And for us, where we live should reflect that.\u201d<\/p>\n The Hispanic Housing Development has \u201cbig plans\u201d for the future of the Northwest Side, Hernandez said. <\/p>\n The developer broke ground in January on the redevelopment of the historic Pioneer Arcade building<\/a> in Humboldt Park, which will be converted into 61 affordable senior housing units. The developer is also partnering with the Puerto Rican Cultural Center to develop two affordable housing buildings near Division Street and Western Avenue. One of the buildings will be senior housing, while the other targets families. <\/p>\n<\/div>\n![\"View](\"https:\/\/cst.brightspotcdn.com\/dims4\/default\/f6f6535\/2147483647\/strip\/true\/crop\/7008x4672+0+0\/resize\/840x560!\/quality\/90\/?url=https%3A%2F%2Fchorus-production-cst-web.s3.us-east-1.amazonaws.com%2Fbrightspot%2Fea%2F1c%2F2276f3854e659960803613b9c78b%2Fhumboldthouse-260212-1.jpg\")
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