Bickerdike Redevelopment Corporation

Annual Report

Building* Revitalizing* Connecting

2016 Bickerdike Accomplishments

2016 was busy and productive, with many accomplishments dotting the year! In the spring we launched our new five year strategic plan, with exciting innovations which will map out our priorities for these few years. As construction progressed, in the fall we began to welcome our newest residents as they move into our 72-unit Nelson Mandela Apartments in west Humboldt Park, adding to our development portfolio of 1,328 affordable rental and for sale homes. 2016 annual report cover

We worked with our partners and many supporters through the numerous processes and successful approvals which took place during 2016, including TIF, zoning, Section 106 historic, and other milestones as we moved toward closing on financing for the first phase of the revitalization of Julia C. Lathrop Homes. Early progress was also made on a new transit oriented development in Logan Square, which will provide affordable homes in an area experiencing skyrocketing housing prices and the large scale displacement of longtime largely Latino residents.

Recognizing the value of preserving our precious existing affordable housing for the long term, we acquired the limited partner interest from our investment partners in two of our older developments: Victory Apartments and Nuestro Hogar. We also signed a breakthrough agreement and made progress on assembling the financing for the long term preservation and rehab of the 318 units in our oldest rental properties soon to be known as West Town Housing Preservation, and we expect to close on financing in mid- 2017 and begin rehabbing these occupied apartments.

We take pride that long-time neighborhood residents, who might otherwise be priced out of some of the fastest changing neighborhoods in Chicago, find safe, quality and stable places to call home in Bickerdike housing. And, the demand for our housing is as great as ever. When our property management team opened two of our wait lists, over 2,600 people applied for a chance to become one of our residents. Our nearly 1,100 apartments in 139 buildings operate with diligence as great places to live.

Embracing a multifaceted approach to community development and a collaborative approach for getting there, dozens of community agencies continued to come together through the Humboldt Park New Communities Program Task Force, convened by Bickerdike. Safety and youth networking and collaboration continued in this important time of building trust and engagement between residents and law enforcement in our neighborhoods. The new Humboldt Park Portal readied for launch, and the one stop community portal helped local residents and organizations to keep up on and share positive local news and engagement.

As we move toward our 50th anniversary, and 50 years of community development, we are cognizant of the challenges that lie ahead in a new national political climate and the many yet to be answered questions. Guided by our mission and new strategic plan, we will work harder than ever to advance all of our work; developing and operating affordable housing, supporting the local economy, and cultivating community leaders. Building, Revitalizing. Connecting.

You can now view the 2016 Annual Report web-friendly version or download here.

 

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