Well I think the gang's all here so let's start. This is a phenomenal celebration today. It was a
year and a half when we were here shoveling dirt and some of the same people were here then and I
hope you have comparative pictures now before and after because that's what we do. We do before and
after of all the developments we work on showing the the men and women at work what the units look
like and and that so our partner Cabrini Green LAC CDC Community
Development Corporation is represented by their president Reverend Blakey who's
here this gentleman I've known for almost 30 years Maurice Edwards and so
what I will do is I will recognize some of the participants in putting the deal
together, and Reverend Blakey will talk about some others as well. Excuse me. So you can't do
anything like this without money, and like I tell the bankers we borrow from, we pay back most of
your money. They don't like to hear that, but that's okay. We've known them for years, but
certainly JPMorgan Chase has been at our side for as long as I can remember. I mean, long,
long time ago. I did a courtyard building in Albany Park in 1980 and the First
National Bank of Chicago was the lender which then became NVD which then became
Bank One but then became Chase and so on but anyway I like to stay with the
people that that help us and and they do a phenomenal job. We use tax credit
equity in all these deals to provide a large amount of equity so that we don't have too much
debt. Walker Dunlop is represented here. They are the syndicator that we work with and our favorite
buyer of the tax credits is JP Morgan. So these are large organizations and we're just flattered
that they consider a company our size and partners their size and buildings
these the size that they're very very serious about investing in them Illinois
Housing Development Authority is also here and they these folks will speak
later but they they provide tax credits for something you you don't understand
probably but it's called the donation tax credit and it's another vehicle to
raise equity they also provide soft secondary financing when needed the city
of Chicago is here and boy do we drain them we we come in every year and with
our hands out and they say get in line so what are you going to do but anyway
they are the backbone of our work here in the city of Chicago as far as funding
and support. Department of Planning helps us with TIF. We just keep layering it on because
no one source of money is enough to do the whole job. So you have to go and knock on
a lot of doors. And that's how we do this. And so for those funders and more, let me
see if I miss anybody. Oh, HUD. My God, HUD. Okay. HUD's the mother load in Washington.
and some of the things we do are direct with HUD
and others come through like the City of Chicago,
State Housing Authority, Cook County,
and the Chicago Housing Authority.
And Chicago Housing Authority is here too
because these are mixed income.
So about a third of the units will be for returning residents
that once lived in Cabrini-Green.
Another third will be for affordable households
that are income restricted but still make good money and finally the market
rate where we we get what we can in the market and those three comprised mixed
income of which the entire Parkside is and North Town Village down the street
so it's pretty cool work it's a lot of hard work but we have phenomenal people
and phenomenal partners and that's how we get the job done so I'd like Reverend
Blakey to talk about some of those phenomenal partners
Good morning, everyone. Well, despite the clouds and the rain, this still is the day
that the Lord has made. And we shall rejoice and we shall be glad in it today. For it is only God
that can make what used to be known as the killing fields into living fields. And we're
thanking God today for the opportunity to be part of this occasion. I want to thank Cornelius Griggs
and the GMA construction company for being the general contractor on this particular job. Also
want to thank Landon Bone and Peter Landon as an architect, Brooke Architects. I definitely have
to thank Alderman Red Burnett, who has stewarded this process at the last part of it. And I have
to also thank his father, Alderman Burnett Sr., who I believe started this process. They're also
thanks to be given to CHA. I believe we started this with Alam Curry. And I believe we started
with also Tracy Scott.
This is an opportunity to provide the units for all of the people that were displaced
from this particular area.
Anytime we can provide more units and have those individuals that were displaced to come
back to this community, it is a blessing.
So we're very appreciative of that.
We're appreciative also of Peter and Jackie Holston, who have been excellent partners
in this endeavor.
And I'm appreciative for over the last, I think, four years to be the president of the CDC board.
And I want to thank the CDC board members that are here with us today.
And with that, I'll turn it back over to Peter.
Thank you very much.
Thank you, Reverend.
The organization that Reverend Blakey heads is a nonprofit that was started with the help of Alderman Burnett how many years ago?
That was in 2013.
2013.
Near North Unity Program.
Near North Unity Program, and they've done a tremendous job of mixing folks of different backgrounds, incomes, whatever,
on a neighborhood-wide basis where we try and do it within a development he does on a neighborhood-wide.
And so it's incredible.
Before we go to the next speaker, I want to mention one more funder.
That is Commonwealth Edison, that they have a grant program for affordable housing.
I'm glad that they're making money so they can do grants.
And we certainly appreciate them.
So our next speaker, speaking of Chase Bank, is Annette Rushke.
She's Executive Director of the Community Development Arm.
And today's her birthday.
So come on up, birthday girl.
You're not going to live that down.
No, that was not what I expected.
All right.
Well, I appreciate that.
Kudos.
So I was telling our folks, we actually have a few teams here today,
that they're actually starting the rotation from credit analysts to banking.
And what better way to start day one on our team to meet Holston,
who when I first started over 20 years ago, Peter was one of our best clients and continues to be.
And so I just want to appreciate the work that's been done here today and the relationship.
We really do truly stand behind our long-term relationships and clients.
This project just means a lot because it brings really the true mixture of affordable housing
and why we do the work we do.
Having both market rate, low-income housing tax credits,
and all the layers with HUD really just brings together that fundamental development
of just mixing communities and all being one,
and I'm just really glad that we're a part of that.
At J.P. Morgan, our commitment to strengthening communities is really deep,
not just here in the north side but in Chicago overall.
The bank, through all their legacies, has been involved for about 165 years.
We're one of the largest employers.
We're looking for all of the grants,
all the things to bring all those projects together and make those subsidies work.
We're also on the, you mentioned on the equity side, so our group worked with Walker Dunlap.
We work with really a lot of the top syndicators and purchase those long-term investments, right?
So we're here for the long run.
We're here to look at other projects and communities that we can do,
but we're really proud to be part of Chicago, proud of the north side here.
And it's really nice here, too.
This also has a lot of different units, so it's the one-bedrooms, two-bedrooms, threes, and fours.
And so, again, it's those different communities where you get large families, you get individuals, and it's the working class.
It's all of those things.
So that's really just what makes things a home.
I'm really proud to be involved in all of this.
I just want to say it's just so innovative and so many partners and so many grants and so many programs.
And as more complicated that can be, the more that we want to sign these things up.
So we'll take the easy ones.
I'm not sure we've ever done one together.
But we'll take the really complicated ones.
So it stopped raining.
So whatever that means, it's my birthday.
It stopped raining.
We've got a great celebration here.
So congratulations, Peter.
We do have a wonderful day, that's for sure.
Our next speaker is Keith Pryor.
He's Deputy Director at IDA.
Keith, come on up.
Good morning, everyone. On behalf of Governor Prisker, the entire Illinois Housing Development
Authorities Board, and the entire IDA team, thank you for inviting us to this grand opening today.
As mentioned, my name is Keith Pryor. I'm Deputy Director of Multifamily Financing at the Illinois
Housing Development Authority. When I look at the audience, I think most of you know who we are,
But for those of you who are being introduced to us, think of us as a banquet of public mission.
And our goal is to finance the creation and preservation of affordable housing in the state.
We're proud of our contributions to this development.
Since 2007, Ida has supported four separate phases of Parkside, and we're excited to be part of this journey.
To me, the development of these 99 units is a testament to many things.
One is a testament to lessons learned and not repeating housing policies of the past
by curating viable, vibrant communities, one that's inclusive and one that's not isolating.
It's also a testament to local community.
I've been to plenty of groundbreakings and grand openings, but I've never had a community cat.
I think what is this, in all seriousness, is a testament to local community with local residents actively involved in the community's future.
From long-term advocates Peter and Jackie, we've worked with you for literally decades, so thank you from the bottom of all our collective hearts.
The engagement and partnership with Cabrini Green LAC CDC to the residents past, present, and future who are here today.
Your collaboration and participation in the process made sure that even as the near north side changes,
former Cabrini residents could still find affordable housing in this area and always be able to call it home.
So I'll conclude with all the customary thank yous.
So thank you, Mayor Johnson. Thank you, Commissioner Castaneda, Chief of Staff Brooks, Alderman Burnett, again, Peter and Jackie, and everyone who's been working to reinvent this area for the past 20 years.
So, again, congratulations and thank you from the entire Ida family.
Thank you, Keith.
Thank you, Keith.
Our next speaker is Alderman Burnett, Jr., better known as Red Burnett.
Come on up.
Good morning, everyone.
I first want to say congratulations to Peter and the Holstein team.
This is truly phenomenal.
To Mayor Brendan Johnson, Commissioner Castaneda, Camina Brooks from CHA,
and the many, many, many sources of capital Peter used to fund this project,
thank you for all the work that you've done in order to get it to this stage.
Last year around this time, I think 18 months ago, I followed my dad around on his Victory Lap Tour
where he was able to break ground on this exact site
with the shovels in the ground.
It's crazy to see where we are today,
18 months later, this project coming to fruition.
It's beautiful.
But if you ask Peter, this project started 20-plus years ago.
20 years ago, I was still getting lost on the bus
trying to go to Skinner North.
And I think Mary Johnson was a teacher right over here in Jenner.
It's crazy to think about how much work and effort
has to go into just funding these projects.
The many mistakes that have been mentioned,
the continuous effort, the continuous community,
and the village it takes to piece together sources to make this work.
And a part of that capital stack is possibly the most important to me,
which is the Cabrini-Green LAC CDC.
Thank you all for all the work that you've done to fight for your residents
to make sure that they share in the benefit of this project.
I think that's a model that we look to emulate,
not only in the rest of the Cabrini Green assets, but across the city.
We need to find a way to continue to help folks at their time of need
when they don't expect to need it.
So I'm super excited about this one.
I'm super excited for all of the work we're going to be doing with CHA going forward
to continue to rebuild Cabrini Green.
I know we just issued the Cabrini Now Project guidelines,
which is super exciting to see that get off the ground,
but there's many generations who've been waiting for this to be done.
So, Peter, congratulations again on all of the hard work and getting this done.
Thank you.
Appreciate it.
Thank you very much.
Thank you, Alderman.
Our next speaker is from the Department of Housing.
I think I mentioned that we take all their money, too.
Ms. Lisette Castaneda, she will come up now.
Good morning, everyone.
As of late, actually, we've been cutting the ribbon on a lot of new developments,
almost every single week, in fact, on the northwest side, the southwest side, the south side,
and today on the near north side.
The neighborhood and the site where we are cutting the ribbon today is historic.
We stand on the shoulders of a community once home to 15,000 people.
What was intended to be a public good to last a lifetime, a place where working-class Chicagoans could call home, largely ended when the last high-rise demolition happened in 2011.
But today, we are writing a new chapter in this story.
In essence, we are daring to dream of a world where those who need subsidized housing and those with means to live in the same neighborhood enjoy the same amenities in our community together.
The working class Chicagoans who will call Cabrini-Green home once again do not need to be relegated to any part of the city in one kind of housing.
They belong in every part of it.
And with this development, 99 new families, partners, and individuals will be just that.
The majority of the units of this development will be for families and individuals on the CHA's wait list and for those who need affordable housing.
That means that this development will feature 65 new units of housing available to working-class families.
The project will not be just beneficial for its residents.
It will also be a benefit for the public.
It provided construction jobs through a black-owned general contractor
and is achieving certified green community status.
The Department of Housing provided $20.6 million in public funding for this project.
Every penny here was worth it to finance this incredible project.
I want to thank Holston Real Estate, the architects, the general contractor associated with this project.
What you have brought to Cabrini-Green in Chicago is a gem in and of itself.
I want to thank my team at the Department of Housing, Fred Doss and Anna Booth,
who I think has underwritten everyone except one project here as we revitalize Cabrini-Green.
I want to thank Ida, and Mayor Johnson, thank you for not just teaching in Cabrini-Green,
but for using this position as mayor to teach others about why Cabrini-Green should remain a place for working people
and why affordable housing must be developed in every corner of our city.
Thank you.
Mayor Johnson, would you like to come up and say a few words?
If you insist, Peter.
Okay, yeah, I know you have a few words.
That's good.
Thank you.
You're back.
Thank you so much. Thank you, Peter. Good morning, everyone.
Thank you, Reverend Blakey and Maurice, for you all's commitment.
Of course, thank you to the former Alderman, our Vice Mayor, Walter Burnett Jr., and to Alderman Burnett III.
Peter, the only thing that has changed since the last time we was here,
I think the ward got an upgrade in representation with Walter Burnett III.
Well, you know, what's interesting is that, you know, when I think about this incredible project,
it's always great when we can cut the ribbon to more housing and especially affordable housing in Chicago.
But we stand on the site of the former Cabrini-Green development,
which was a national symbol for both the promise of public housing and the challenges that arise from systemic neglect.
and as Alderman Burnett III indicated just on the other side of the street
is where I began my teaching career here in Cabrini-Green
and that's after I was program director at the YMCA in Cabrini-Green
where I met Alderman Burnett Jr.
And my oldest son was just born when I was teaching here
and to see the maturation of this project where the original Alder has been able to pass on rich tradition of excellence for our people to his son.
And now my son, much like Alderman Burnett's son, recognizes that politics is not always the surest way to raise a family,
and he is studying accounting and finance, just like Walter Burnett III.
But now I'm concerned because if Walter Burnett III had enough sense to study accounting and finance
so he wouldn't have to be relegated to being a public servant, and then it turns out he...
He's doing just this. I am sending text messages to my son right now saying you have a bright future in finance and politics one day.
But let's give it up for the Burnett family for their commitment to this community.
And my son assures me he has no political aspirations, but I think Burnett III said the same thing.
So, you know, I feel really bad for my guy now.
Yeah. But, you know, when this housing was developed in 1942, it was for low-income housing for returning veterans and wartime industry workers.
But with evolving demographic shifts and housing policies, it became a predominantly African-American community.
And that's when it began to suffer from chronic and municipal disinvestment.
And quite frankly, city government did let the people of this community down.
They let the families of Cabrini down in ways that they allow this development in its original form to deteriorate
into a complex that's riddled with challenges.
Now, eventually it was torn down, but I think it's important that I just offer up a little more history here.
There is a young boy by the name of Dontrell Davis.
I know you remember this, Alderman Burnett, who was a student at Cabrini-Green.
It was gunned down before the school day started.
And, of course, the great organizer, Marion Stamps, and Gator Bradley, I believe,
were a part of creating a truce in the community.
And I'm lifting up that story not in the context of the suffering of violence,
But when government fails and disinvests in communities, that's when trauma has the ability to grow and the weeds begin to fester in a place where growth clearly is possible.
And now this site that was torn down as a result of challenges and death truly embodies hope and progress once more with the cutting of this ribbon for phase three of the park side of Old Town development.
Today we celebrate the completion of 99 new homes here on the near north side, including 65 affordable homes and 35 market rate homes.
The development offers a range of home sizes from studios to four-bedroom units
with larger family-sized units, making it a significant share of the development.
When I was teaching here, Vice Mayor, I was trying to convince my wife to move to Cabrini-Green,
and she said, look, brother, you spend all day with them kids.
The last thing I need is those kids knocking on your door, talking about they need help with their assignment.
But to think now that those families that were forced out now have the opportunity to return.
What a remarkable testament and a joy to what's possible.
That's why my administration was proud to support this redevelopment.
$16.4 million in near-northside TIF assistance, up to $4.25 million in the Department of Housing,
multi-family program funds, and a 9% LIHTC allocation generating approximately $17 million for equity.
This investment is another step in our journey to promoting affordability
and providing home ownership pathways in every community of our city.
We are investing in housing on the west and south sides.
We are investing in communities that have been disinvested in for decades,
creating new housing and opportunities.
But we also know that affordability is a citywide issue that calls upon all of us
to invest in communities across the north side and downtown as well.
As Commissioner Constaneda said, that families who live in this city
should not be confined to one particular neighborhood.
And through initiatives like my administration's $1.25 billion
housing and economic development bond, we are constructing and preserving
mixed-use, mixed-income housing in communities across Chicago, especially on the
south and west sides. And through these initiatives, like LaSalle Street
reimagined, we are transforming underutilized office space into much-needed
affordable housing downtown in the heart of the city, which is just right behind us. Our journey
will continue thanks to the many city, community, and development leaders and partners who
are committed to Chicago. Finally, I want to thank all those who played a part. Thank you
to Parkside Associates, the Holston
Real Estate Development Corporation, the Cabrini Green
LAC, Community Development
Corporation, GMA, VOSB
Land and Bone Banker,
Brook Architecture, the Chicago Department of
Housing, thank you Commissioner Constaneda
and of course I can't say enough about the altar of the
27th War and our former Vice Mayor
and the Housing Authority as a whole.
Thank you all for demonstrating what
collaborative investments can look
like as we work to build the safest, most
affordable Bix in America. God bless you all
and God bless the greatest city in the world, Chicago.
Thank you.
Thank you very much, Mayor.
We really appreciate your support on this type of housing.
Our next speaker is Kamina Brooks, who is Chief of Staff for the Chicago Housing Authority.
Kamina.
Thank you.
Thank you.
And good morning.
Thank you.
Thank you.
And thanks for joining us to celebrate this important milestone here on a site with deep history in our city
and for generations of families who called Cabrini-Green home.
As shared, I'm Kamina Brooks, and I serve as the chief of staff for the Chicago Housing Authority.
For decades, Cabrini-Green was a vibrant community full of families, culture, and pride.
That pride can be felt in rooms where former residents proudly call out their old street addresses,
remembering not only the structures that once stood here, but more importantly, the memories that were built here.
And today, we honor that history while continuing the work of building a stronger, resilient neighborhood for current and future residents.
Parkside of Old Town has been central to that effort, bringing new homes, new opportunities, and a new chapter to this part of Chicago.
While we still have more work to do here at Cabrini-Green, today we mark the completion of the final phase of Parkside development.
And I'm proud to stand here before you picking up the baton on the last leg of a project that has been more than a decade in the making.
But before we go any further, I want to first thank Mayor Brandon Johnson, Alderman Walter Burnett, Red Burnett of the 27th Ward,
former Alderman Burnett, the City of Chicago Department of Housing, Illinois Housing Development Authority, and the Housing Urban Development HUD,
As well as our partners, Holston Real Estate Development Corporation, the Cabrini-Green Community Development Corporation, and the Local Advisory Council for your steadfast partnership.
This doesn't happen without that group of collaborative partners, so again, I want to say thank you.
Thank you to CHA staff who contributed to seeing this important development through to its completion.
CHA's redevelopment efforts since the early 2000s have brought more than 3,500 homes back to the community.
That is thousands of opportunities for families with stable, quality housing, just steps from transit, schools, parks, and jobs.
This final phase of Parkside adds another 99 new homes, including 37 for CHA households.
And while today may mark the final phase of Parkside, CHA's work in Cabrini-Green certainly continues.
Just down the street, construction at Oak and Larrabee will bring 78 more homes,
and we are also advancing the next phase of Clybourne and Larrabee with future mixed-income housing.
And we're moving forward with Cabrini Now, a community-driven plan that will guide redevelopment of remaining acres,
ensuring that both long-term residents, stakeholders, and partners shape what comes next.
And so I want to say congratulations again to all the partners who helped bring this project to life
and continue to push Cabrini forward.
Today we celebrate 99 new housing opportunities and the next step in a community with a proud past
and a promising future.
Thank you.
Thank you.
Thank you very much.
Thank you.
Thank you, Camita.
We couldn't do it without Ida, and we've been a long-term customer.
It's my proud and happy occasion to announce my better half, Jackie Holston, to come up and say a few words.
Don't worry.
Good morning.
Good morning.
Wow.
Okay, so everyone talked about money.
Everyone talked about building, construction, the community, but did they really talk about the people?
That's what I talk about.
I talk about the people that are being rehoused, who are moving back, who have waited patiently,
who have looked at each one of these phases and kept thinking, what about me?
So Holston Human Capital is the social service arm that partners with the developers,
that partners with the developers, with the city, with all of the financial people that come in and say,
what are you doing with my money?
And we're saying, what are you doing for the people?
So the people who want to know about the schools, they want to know about the libraries,
they want to know what the police are doing, they want to know what the fire department's doing,
they want to know what the park district is doing.
My group, the Holston Human Capital Group,
Group works with all the other groups.
Where are you, Reverend?
Yes.
We work with NUP.
We work with the CAPS programs.
We work with all of the programs to be able to say what's happening after school,
what's happening for the holidays, what's happening when they can't pay their rent,
what's happening when they need to find a job,
what's happening when they're building something,
and how do they get a job with those builders.
Thank you, GMA.
So it's a time to be able to say how do we partner, who do we partner with,
who are the familiar faces,
who's going to still be around after all the years,
after all the politicians go on and do other things, right, Alderman, Burnett?
Anyway, so whoever you are, you need to realize that there's always room at the table.
And even if there's not a table, there's a chair, there's a wall, there's a bench,
there's something because some of us, right, Francine,
have talked about how many years we've known each other.
And it's not just Cabrini, even though we're saying Cabrini today,
But we have to reach back and we have to connect with all the other communities
and we have to say, what are you doing over there?
We need to do that over here.
And then you need to raise the money.
And then you need to get the volunteers.
And so we have on-site help in one of the buildings.
Actually, every time Peter builds a building, I say I need an office for the social services
so that people can come downstairs and say, management didn't talk to me.
And I go, oh.
So, or what's happening for Halloween, for Thanksgiving?
Are you giving out turkeys?
Is there anyone that's going to do something with the farmer's markets?
All of those things, they need to be able to have a face, a place to go,
and to be able to know that there's an open arm, an open ear, an open door to be able to come in.
So they're the green people.
I'm the purple people.
I'm the one that goes around and says, you want my number?
Right, Mayor?
You want my number?
You can call me.
I want you to be those same people.
So today, go on the tours, say hello, be in all the pictures, do those things,
but come back and volunteer, come back and help us, come to our fundraisers that we have,
come to our open houses that we have, and show that you want to see this community thrive
and that you want to say, I was part of it and really be part of it.
So thank you. I'm Jackie Holston. I'm part of this team, and I can't do it without you.
I'd like to introduce a resident of this new development.
Her name is Anisha Anderson, to come up and say a few words about how she got here and what she thinks about it.
Good morning, everyone.
Good morning.
My name is Anisha Anderson, and I'm honored to be standing here as one of the newest residents of this community.
As a child, I used to play in what we called the White Walls, the old buildings that once stood here.
And I never could have imagined that years later I would be standing here again, not as a child playing outside, but as a resident calling this place home.
For me, this community represents a fresh start, stability, and the opportunity to build something meaningful for my family.
I've had the opportunity to experience the development from a resident's perspective.
I've seen the care that I wanted to create in a place that feels modern, welcoming, and connected to the surrounding neighborhood.
And being here today, seeing how much work and vision I wanted to create in this community makes me proud to say that I'm a part of it.
So I want to thank Holston, CHA, and everyone who made this possible.
Thank you.
Thank you.
Thanks, Anisha.
You're welcome.
so this concludes our program we have refreshments inside and you'll notice some folks that have a
green banner they are volunteers tour guides any questions please make yourself at home
and thank you so much for coming and celebrating with us
Thank you.
PYM JBZ
PYM JBZ
PYM JBZ
PYM JBZ
What do I got here?
Thank you.
Thank you.
Did you do two kind of regular room?
Oh, for the photo.
I'm the one more.
I'm the one more.
I'm the one more.
You don't remember that stuff.
All right.
All right.
All right.
Thank you.
All right.
Thank you.
All right.
Thank you.
All right. Another photo looking up in the center.
Beautiful.
We're going to go right here.
I'm going to play right here.