Mixed-Use Project Planned for Parsons Avenue
A nonprofit organization has decided to replace two single family homes on Parsons Avenue with a new, three-story building that will hold 12 apartments.
Brian Higgins, Executive Director of the Parsons Avenue Redevelopment Corporation (PARC), said that the organization has been renting out the two homes – located at 921 and 923 Parsons Ave. – since buying the properties in 2017.
“We renovated them and have been maintaining them as affordable housing, but it occurred to us that a new building with 12 affordable housing units was better than two homes,” he said, adding that rents in the new building are still to be determined. “Rents…will be a function of if federal funds are involved in the capital stack. If they are, then we would likely be locked in to HUD’s definition of Fair Market Rent, which is around $600 for the studio units, $690 for the one-bedrooms, and $850 for the two-bedrooms.”
Zoning variances for the project were approved by city council earlier this year, after positive reviews from the Schumacher Place Civic Association and the South Side Area Commission.
Final plans call for the building to hold two studio apartments, eight one-bedroom units, and two two-bedroom units. A first floor commercial space will offer about 800 square feet of space, and a rear parking lot will provide space for 12 cars.
The building is named after Eleanor Edgar, mother of Reverend John Edgar, the Executive Director of Community Development for All People. Eleanor Edgar passed away last year at the age of 99.
Higgins, who is also Principal of Arch City Development, said that he hopes that work can begin on the project this summer, although that could get pushed back if lumber prices continue to climb.
Brackett Builders is lined up to be the general contractor and Berardi + Partners – who donated their services – designed the building.