According to a release by the Broadway/Westport Council, the owners of the Chatham apartments received approval for full MHCD Funding -- including tax incentives and gap funding.
Redevelopment of the building will likely begin before the end of the year. The building's end use will be for affordable senior housing.
I'm not going to pretend that I know all of the details of the deal financially, but I will say that I pretty much approve of renovating historic buildings and keeping our historic structures and approve of filling empty buildings with people.
People spend money at local businesses. Empty buildings tend to be eyesores on neighborhoods, and house people who are involved in illegal activities creating safety issues in neighborhoods.
This should be a huge help to a neighborhood that is on the cusp of some real improvements.
oh well good i'm glad you pretty much approve because everyone was holding their breath about your opinion on the matter
Posted by: lskdjfuh | August 24, 2010 at 08:37 PM
This is good news for Broadway and the Old Hyde Park and Valentine neighborhoods.
Posted by: Kevin | August 29, 2010 at 06:50 PM