Malden Arms

Malden Arms
Multifamily Residential
About This Project
  • 4-story, 83-unit supportive housing moderate rehab of occupied building in Chicago, IL.
  • Completed in 2009.
  • 2010 recipient of:
    • The Polk Bros. Foundation Affordable Rental Housing Preservation Award
    • Finalist for Affordable Housing Finance Magazine Reader’s Choice Award – Preservation category
  • $6.4MM development budget with 9 layers of financing, including 9% tax credits.
  • Construction scope highlights include: new mechanical, electrical, plumbing & HVAC systems (previously no air conditioning); modernized elevator; new kitchens, baths & flooring.
  • Energy efficiency highlights include: new Energy Star roof, insulation at exterior walls & roof; high-efficiency HVAC & water heaters; new windows; unit appliances & lighting.
  • Involved a combination of temporary off-site relocation and rehab-in-place.
  • Secured first-ever Long Term Operating Subsidy (LTOS) award for $2.1MM to serve as operating subsidy for the building over 15 years. Previous awards were typically subject to annual renewal.
  • Led development team while employed by Mercy Housing Lakefront.