Bickerdike Wins Polk Bros. Foundation Affordable Rental Housing Preservation Award
Bickerdike Redevelopment Corporation won citywide recognition on February 17th for preserving and improving affordable rental units in Humboldt Park’s 1704 N. Humboldt Building at Local Initiatives Support Corporation (LISC) Chicago’s 21st Annual Chicago Neighborhood Development Awards (CNDA), the city’s premier forum for recognition of development projects.
“Rents in Humboldt Park are going through the roof,” said Joy Aruguette, Bickerdike’s Executive Director. “Without buildings like 1704 N. Humboldt, long-time neighborhood residents of modest means would be priced out. This award is a welcome acknowledgement of our efforts to keep them there.”
The Polk Bros. Foundation Affordable Rental Housing Award, accompanied by a $15,000 prize, recognizes a non-profit or for-profit community development organization for a specific real estate project that has preserved affordable rental housing at risk because of expired subsidy contracts or physical deterioration.
Bickerdike originally saved the 1704 N. Humboldt Building from demolition in 1985 and proceeded to convert its studios into 29 family affordable units. A recent major renovation and restructuring of financing ensures the long-term affordability of the building in Humboldt Park where affordable rents are increasingly rare.
Other building improvements included the removal of lead and asbestos, the installation of Energy Star windows and appliances, air conditioning, high-efficiency heating, water-saving fixtures, solar hot water and more.
“The Chicago Neighborhood Development Awards celebrate what truly makes our city great – the passion, creativity and diversity of our community development leaders,” said LISC Chicago Executive Director Susana Vasquez. “This year’s recipients have all made dramatic contributions to the economic, social and cultural life of the communities they serve – from inspirational buildings to dedicated organizations and developing leaders, CNDA honors everything that makes Chicago neighborhoods thrive.”
Created in 1995 by LISC Chicago, the Chicago Neighborhood Development Awards celebrate community development and architectural achievement in neighborhoods across the city. All winners were selected after extensive review by teams of judges.
We congratulate our fellow 2015 Chicago Community Development Award recipients and invite you to learn more about the great work being done in many Chicago neighborhoods, and about our award-winning 1704 N. Humboldt project by watching the video below!
Photos Courtesy of LISC Chicago, photo credit: Eric Young Smith. See a full event album here.
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