Pershing Courts

Type:

Multi Family Rental

Status:

Construction Completed– Placed in Service 2005

Budget:

$16,861,106

Financial Sources:

Low Income Tax Credits / National Equity Fund
Conventional First Mortgage Bridge Loan / NEFMAC
CHA/HUD Capital Development Funds, TIF Funds
Home Funds


Pershing Courts represents Phase IA of the broader Park Boulevard development that replaced the former CHA housing project known as Stateway Gardens. Pershing consists of 80 one and two bedroom apartments, and serves both CHA public housing residents and working low-income families who earn between 30 to 60% of the Area Median Income. The building was the first affordable housing design commission for VOA Associates. The Davis Group has gone on to work with VOA on several other projects. This development required extensive negotiations with CHA, HUD and the City of Chicago as the precursor to what would be eventually be built across the street on the Stateway Gardens site.