CHICAGO (WBBM NEWSRADIO) -- A shuttered elementary school on the West Side is one step closer to becoming an apartment building for teachers.
The project was first pitched in 2016 and plans to convert the former De Duprey and Von Humboldt building in Humboldt Park into 102 rental apartments for educators, plus five new market-rate townhouses.
The Chicago Housing Authority will also provide 27 vouchers to assist with affordability. Twenty percent of the units will be affordable at 50% of the area median income or less.
On Wednesday, the Chicago City Council passed a measure that allows up to $13 million in Tax-Exempt Bonds to finance what’s being referred to as “Teachers’ Village Chicago”.
The new space will include over 4,000 square feet of retail space, a public square, 53 parking spaces and a “community as campus” life-long learning center.
The total project cost is $50.6 million, though it’s unclear when construction will begin.