West Elsdon Project Receives City Tax Dollars
The Community Development Commission approved a tax increment financing plan for a condo development in West Elsdon.
The developer, 5007 Lawndale Corp, is planning to build 181 condominiums at the corner of Lawndale and 51st Street.
According to the city decision, the subsidy will go towards the cost of building new city streets and connecting alley ways.
The building will offer a mix of market rate and affordable housing options. A total of 145 condominiums will be sold at market prices.
Single family homes will be priced from $350,000 for a 1,626 square foot unit to as much as $445,000 for a 1,876 square foot model.
Townhouses will be priced in the low $300s for floor plans ranging from 1,634 square feet to 1,973 square feet.
There will also be 36 affordable townhouses and condos offered at rates far below market. Condominiums will be priced from $131,000 for a 790 square foot unit to $167,000 for 1,233 square feet.
Larger townhouses, with floor plans ranging from 1,634 to 1,862 square feet, will be priced in the low $200s.
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