The Chicago Department of Housing today released its results for the second quarter ending June 30, 2008, highlighting the City's investment in affordable housing. Second quarter results show the City delivered solid results for the first half of the year in meeting its key goals despite a weakened housing market.

The Department committed nearly $155 million to support over 6,440 units through the second quarter, which represents 41 percent of the 2008 unit and 43 percent of the 2008 resource allocation goals.

By year's end, the Department expects to commit over $378 million in resources to support 15,000 units of housing.

Since the beginning of the five-year plan, the Department has committed $2.2 billion to support 39,515 units.

"In these challenging economic times, we will work closely with our partners and stay on track to meet our goals as we close out the final year of our current five-year plan," Housing Commissioner Ellen Sahli said. "We will continue to work hard to expand the scope of our affordable housing programs and optimize our operations for the remainder of this year and beyond."

Second quarter 2008 results include the approval to help finance the construction of 203 units of senior housing and the preservation of 26 units of affordable rental housing. The City also authorized the disposition of City-owned land for the development of 34 single-family homes and 19 two-flats.

Also this quarter, the City sponsored three affordable housing expos, hosted a Mayoral breakfast to encourage businesses to adopt employer-assisted housing programs to make home ownership affordable for their employees and began the planning process for the next five-year plan.

Two housing-related bills were also approved by the state legislature. The first bill provides additional protections for renters affected by foreclosure and the second makes it easier for municipalities to gain control of abandoned buildings.

Second quarter 2008 highlights include:

• The City Council authorized financing for the construction of G&A Senior Residence at Eastgate Village, a $28.5 million rental complex for seniors in the City's Near South Side community. G&A Construction and Development, Inc. plans to build the 118-unit development at 300 East 26th Street in the 2nd Ward.
• The City authorized the construction of Senior Suites of Kelvyn Park, a new $20.1 million rental complex for seniors. The proposed 85-unit development will be built at 2701-33 North Cicero Avenue with ground-floor space for a Department of Senior Services Center in the 31st Ward.Another ordinance authorized the rehabilitation of the Sunnyside Kenmore Apartments in the Uptown community on the City's North Side. The developer, Community Housing Partners XII LP, will renovate 26 units of affordable rental housing in two buildings, located at 847-49 W. Sunnyside Ave and 4130 N. Kenmore Ave., in the 46th Ward.
• The City entered into a redevelopment agreement and authorized the disposition of 12 City-owned parcels for the next phase of Nehemiah Homes. The developer, Interfaith Organizing Project, plans to build up to 12 two-flats on scattered sites in the 3300 block of West Walnut Street in the 28th Ward and the 2700 block of West Jackson Street in the 2nd Ward.
• The City approved a redevelopment agreement and authorized the disposition of 16 City-owned parcels for New Homes of West Monroe in the 29th Ward. The developer, Karry Young Development, LLC, will build 14 single-family and seven two-flats in the 5200 and 5400 blocks of West Van Buren and Monroe Streets in the Austin and Garfield Park communities.
• An ordinance authorized the disposition of 20 City-owned parcels and the waiver of related fees for the construction of 20 affordable single-family homes in the North Lawndale and Austin communities. Lorsch Construction and Development, Inc. plans to build the homes, part of the City Lots for City Living program, on scattered sites in the 24th, 28th and 37th Wards.