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Cecil Newman Apartments

701-729 Emerson Ave. N.

Legacy Management and Development and the Northside Residents Redevelopment Council plan to stabilize this 64-unit, eight-building property in Near North. The project will include new siding, adding pitches to the roofs, new heating and ventilating systems, extensive regarding, and addressing health and safety items.

Developer:

Legacy Managemen t and Development

Northside Resident Redevelopment Council

City Financing:

$5.7 million Housing Revenue Bonds

            

$188,000 Affordable Housing Trust Fund 2003

 

$600,000 Affordable Housing Trust Fund 2004

 

$443,000 existing Family Housing Fund

 

$694,000 existing MCDA financing

 

$398,610 Low-Income Housing Tax Credits

Total Development Cost: 

Approximately $10.3 million

Number of Units: 

64

Unit Sizes: 

8 one-bedroom, 28 two-bedroom, 28 three-bedroom

Renovation expected to begin: 

2005 or later

Completion date:

2006

Information subject to change.

June 2005

Last updated Oct. 28, 2011