TRP CEO Raul Raymundo announces Casa Queretaro, a new affordable housing development slated for construction in Pilsen. (The Gate/Sonya Eldridge)
A new affordable housing development is slated for construction at a site in Pilsen that was once an eyesore in the community.
The announcement was made on Thursday, Feb. 5 by The Resurrection Project (TRP) at an event held in the Orozco Academy gymnasium, 1940 W.18th Street.
In his opening remarks, TRP CEO Raul Raymundo called the crowd’s attention to the projector screen which showed a big grain elevator at the northwest corner of 17th Street and Damen Avenue that once stood at the site until it was demolished more than 20 years ago.
Longtime Pilsen resident Alicia Rocha said she can remember when the site was a dangerous place.
Rocha, her family and community leaders fought to get the grain elevator demolished but even after the building came down, the vacant lot was full of trash, she told the crowd.
“We always had faith that this place would turn into a productive place that would benefit us. Now that community space is going to be housing for families, our families and our block will be safer, and healthier for everyone on the block,” she said.
Named after the state in central Mexico, Casa Queretaro will be an energy-efficient, four-story building with 45 units of affordable rental housing, including 17 one-bedroom, 18 two-bedroom, and 10 three-bedroom apartments. The building will have a laundry facility and parking lot for residents.
Financial partners for the $15 million development include Citibank providing $8.5 million in bond financing, and the National Equity Fund, a Local Initiatives Support Corporation affiliate that is investing $5.3 million.
Construction will be managed by Denco, a minority-owned general contractor. The expected completion date for the housing development is set for Dec. 2015.