Evergreen Real Estate Group and Chicago Housing Authority Announce Topping-Off of Oso Apartments in Chicago’s Albany Park Neighborhood
CHICAGO (Jan. 18, 2019) — After breaking ground just three months ago, Evergreen Real Estate Group, in partnership with the Chicago Housing Authority, has announced the topping-off of Oso Apartments, a 48-unit affordable rental community at 3435 W. Montrose Ave. in Chicago’s Albany Park neighborhood.
“Residents in the area are thrilled to see construction moving so quickly and the building really starting to come to life,” said 35th Ward Ald. Carlos Ramirez-Rosa. “The Oso Apartments development is going to fill a major void in our neighborhood for low- and middle-income families who want to live in this area but are in danger of being priced out.”
Located at the southwest corner of Montrose Avenue and Bernard Street, on land that was formerly vacant, the new five-story building will offer 32 one-bedroom and 16 two-bedroom apartments. Of the 48 apartments, 32 will be set aside for renters on CHA’s waiting list. Fourteen of the remaining units will be reserved for households earning up to 60 percent of the area median income while two units will be reserved for households earning up to 50 percent of AMI.
“We’re excited to have reached this milestone so quickly, lessening the construction impact on nearby residents and bringing us one step closer to delivering quality rental housing that’s affordable for local families who call Albany Park home,” said David Block, director of development at Evergreen Real Estate Group. “We look forward to welcoming our first residents in August.”
On-site amenities at Oso will include a public plaza at the corner of Montrose and Bernard, as well as a smaller landscaped area for residents, located on the west side of the property. In addition, Oso will offer a large community room, in-building laundry and bike storage, with a total of 22 surface parking spaces.
Evergreen has completed the building’s structure and exterior envelope, bringing it to its full height of five stories. The firm will now begin the infrastructure work, which includes partition framing, plumbing, mechanical and electrical rough-ins, with work on interior finishes set to begin in mid-March, said Andre Pintauro, president of Evergreen Construction Company, a division of Evergreen Real Estate Group that is serving as general contractor.
“We were able to make great progress this fall due to all the upfront planning during the pre-construction phase and the procurement of long-lead materials,” said Pintauro. “The selection and application of materials, together with the building’s thoughtful design, elevates the traditional affordable housing model in a way that benefits both future residents and the community at large.”
Designed by Chicago-based Canopy Architecture + Design, Oso will have a textured-concrete façade with bright yellow metal accents. The entrance will feature an art wall with a mural design.
Oso will be steps from CTA bus stops along Montrose and Kimball avenues and a half-mile south of the Kimball Brown Line station. The Montrose Blue Line station, which provides access to downtown and O’Hare International Airport, is a 10-minute drive from the property and accessible via the Montrose No. 78 bus.
For more information about the leasing process for Oso Apartments, please contact Evergreen Real Estate Group at (312) 382-3251.
About Evergreen Real Estate Group:
Founded in 1999, Chicago-based Evergreen Real Estate Group is a fully integrated multifamily company that develops, acquires and manages affordable and market-rate multifamily apartments for both seniors and families in 10 states. Evergreen specializes in thoughtful, creative residential development solutions — from adaptive reuse of historic buildings to new development in cities and towns facing a shortage of affordable housing. The firm is led by a passionate, cross-disciplinary team of developers, architects, urban planners and attorneys who have come together to create high-quality apartment communities, often in collaboration with local municipalities and financial partners who share its vision of investing not just in real estate, but also the people who call our communities home. Evergreen currently owns and manages 8,500 units of multifamily housing across 10 states.
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Editors:
For more information or to schedule an interview, contact Kathryn Kjarsgaard, [email protected], (312) 267-4514.
Photo caption:
Evergreen Real Estate Group has topped-off Oso Apartments, a 48-unit affordable housing community at 3435 W. Montrose Ave. in Chicago’s Albany Park neighborhood.
