Chicago Housing Authority - File #: 26-127

• File #: 26-127
• Type: Resolution
• Status: Agenda Ready
• File created: 9/24/2026
• In control: Real Estate Operations Development Committee
• On agenda: 11/17/2026
• Title: Authorization to execute an agreement to enter into a Housing Assistance Payments (AHAP) Contract and a Housing Assistance Payment (HAP) Contract for UCHP Senior Lofts.

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Authorization to execute an agreement to enter into a Housing Assistance Payments (AHAP) Contract and a Housing Assistance Payment (HAP) Contract for UCHP Senior Lofts.

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Development Address	Community Area	Target Population
UCHP Senior Lofts 1448 E 53rd Street	Hyde Park	Seniors

presenter

Presenter: Cheryl Burns, Chief Housing Choice Voucher Officer

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Recommendation

The Chief Executive Officer (“CEO”) of the Chicago Housing Authority (“CHA”) recommends that the CHA Board of Commissioners (“Board”) authorize the CEO or his designee to negotiate and execute an Agreement to enter into a Housing Assistance Payments (AHAP) contract, a corresponding Housing Assistance Payments (HAP) contract and all other documents required to implement such items for UCHP Senior Lofts.  Should the project not secure required financing approvals, CHA’s commitments will expire December 31, 2027.

The requested action complies in all material respects with all applicable federal, state, and local laws, and CHA policies. CHA staff has completed all necessary due diligence to support the submission of this initiative.

Property Summary and Estimated Contract

A HAP contract shall be issued for the following Development utilizing funding from the Housing Choice Voucher (HCV) program:

Development Name Owner Entity	Contract Type & Term	Total  # Units	PBV Units	Initial Estimated Contract	Total Estimated Contract
UCHP Senior Lofts The Community Builders, Inc.	AHAP/HAP 30 Years	51	25	$ 511,500.00	$ 24,334,825.00

Initial contract rents will be determined by market comparables and fair market rents applicable at the time the HAP contract is executed. All rent determinations will comply with federal regulations and CHA policy.

UCHP Senior Lofts is a fifty-one (51) unit, four-story elevator building located in the Hyde Park community. The new construction, multi-use property will contain forty-five (45) one-bedroom and six (6) two-bedroom apartments for seniors. The development will include a preservation of the historic façade on the corner of 53^rd and Blackstone Avenue.

Project-based vouchers are being requested to assist twenty-two (22) one-bedroom units and three (3) two-bedroom units for a total of twenty-five (25) PBV units. All utilities, including heat and electricity, will be paid for by the tenant with ownership providing water & sewer, trash collection, electric range, refrigerator, microwave and dishwasher.

Applicants will come from the CHA waitlist with eight (8) crossmatched with Chicago’s Coordinated Entry System and continues CHA’s partnership to Chicago’s Plan to End Homelessness and the State Referral Network (SRN).

Property Owner: UCHP Senior Lofts will be owned by a single purpose entity to be formed at a future date consisting of a managing member to be formed that will be wholly owned by The Community Builders, Inc. (TCB) and TCB Interest Owner LLC which anticipates admission of an Investor Member at financial closing.  TCB is a Massachusetts non-profit corporation in its 61^st year of serving families and building communities.  In fourteen (14) states and the District of Columbia, TCB has completed or preserved more than 36,000 apartment homes with more than 18,000 in the current portfolio.

Property Manager: Community Builders, Inc. (TCB) is an Accredited Management Organization with a portfolio of over 100 properties ranging in size from six units to communities of over 800 units, most include subsidies with various subsidies represented.  TCB works with CHA in the mixed-income portfolio, the Canvas at Leland where there are sixteen (16) project-based vouchers and is developing Flyover Flats where thirteen (13) project-based vouchers are being planned.

Respectfully Submitted:

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Keith Pettigrew

Chief Executive Officer