The 52-unit development at 3601 West Chicago will be called "The Ave".
The one-, two- and three-bedroom apartments will be for households that make 30-percent to 60-percent of the Chicago area's median income.
"The Ave" also will have a home ownership center which offers services such as homebuying classes, home improvement grants and new home loans.
The housing project is expected to be completed by fall 2026.
