CHA Hands Loomis Courts Keys to POAH in $45 Million Near West Side Overhaul
The Chicago Housing Authority has tapped Preservation of Affordable Housing (POAH) to steer a roughly $45 million mixed-finance overhaul of Loomis Courts, the longtime public housing complex on the Near West Side. The plan calls for a full gut-and-rehab of the two-building, 126-unit property, with CHA and its co-developer promising modernized apartments, new building systems, and locked-in long-term affordability. Residents who relocated from Loomis as early as January 2020 will get priority to return once the work is wrapped.
The $45 million price tag was first reported by Business Journals, which broke the news of POAH’s selection on Tuesday. That outlet reported that POAH will handle the financing strategy, chase tax credits, and oversee construction of new resident amenity spaces, along with an on-site management office.