chicago.suntimes.com/news/2021/4/29/22410055/parkway-gardens-apartments-affordable-housing-complex-offered-sale-related-midwest-o-block

Parkway Gardens, one of the biggest and most notorious affordable housing complexes in Chicago, is up for sale.

Related Midwest, the real estate and development firm that owns the >sprawling property in Woodlawn, is seeking a buyer for 694 apartments >spread among nearly three dozen buildings. The 13-acre campus >stretches from 63rd to 65th streets between Dr. Martin Luther King Jr. >Drive and Calumet Avenue.

The most prominent marketing feature for prospective buyers is a >contract with federal housing authorities that ensures subsidized rent for >years to come.

What’s not mentioned: the gun violence that’s troubled Parkway Gardens >and the surrounding area for years. A portion of King Drive along >Parkway Gardens known as “O Block” — a reference to a gang member >who was killed nearby — was once the most dangerous block in the city.

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‘O Block’: the most dangerous block in Chicago, once home to Michelle >Obama
Related’s deal to acquire Parkway Gardens in 2011 included the use of >$59.5 million in tax-exempt bonds from the Illinois Housing Development >Authority. Additional money included $28.8 million in Wells Fargo equity >from low-income housing tax credits and $9.9 million in historic >rehabilitation tax credits.

Related rehabbed the apartments after the purchase, completing the >work in 2014. >
A spokeswoman for Related declined to answer questions about the sale >but in a written statement said: “During our time managing Parkway >Gardens, we are grateful to have been able to provide fundamental >upgrades while also partnering with community organizations to bring >new programs and services to residents. We are actively seeking new >leadership who will build upon our efforts and continue maintaining the >property as affordable housing for years to come.”

There’s no asking price in the listing by Affordable Housing Advisors, an >affordable housing broker, which posted a video featuring drone footage >of the property.

Parkway Gardens Apartments in the 6400 block of Martin Luther King >Drive
Parkway Gardens Apartments in the 6400 block of Martin Luther King >Drive. Sun-Times file
Ald. Jeanette Taylor (20th), whose ward includes Parkway Gardens, said >Related has been a terrible owner, describing a multitude of issues >ranging from water damage and broken elevators to pests and rodents.

“It’s a headache for them. They couldn’t do nothing with it and didn’t want >to be made to look bad because they want to continue working with the >city, so they’re trying to get rid of it,” Taylor said.

Related is one of Chicago’s most active developers. Among its projects is >a plan to turn 62 acres along the Chicago River on the Near South Side >into the city’s 78th community.

Jennifer Maddox, a Chicago police officer who runs Future Ties, a >nonprofit that offers after-school programs out of basement space in a >Parkway Gardens building, said many residents have lacked basic >services and suffered as they waited weeks or months for repairs.

“There’s 3,000 people who live here, most living on about $16,000 a >year, many of those people with families, and there’s no social service >entity to provide any support,” Maddox said.

“The residents deserve better. And the violence on the property >overshadows the good things and the residents who are working hard >and doing the things they need to do. So it’s frustrating for them because >they get a bad rap just for living over here,” she said.

Corey Brooks, whose New Beginnings Church neighbors Parkway >Gardens, said he learned of the potential sale from a Related >representative.

“They felt they contributed 10 years of hard work in Parkway, beautifying >and making it better, and it’s time to move on,” Brooks said.

Brooks said he expects the community, including many Parkway >Gardens residents who are members of his church, will back efforts to >ensure the apartment complex ends up in responsible hands.

“I don’t have hard feelings against Related, but I just wish that people >who make money in certain areas would do more for the communities >where they’re making money,” he said.

Should Kanye cop?

all that name dropping over a block that's literally about to be bought up.

All those dealers and rappers like Durk and em should come over and put they money where they mouth is.

EDIT: I was corrected on this, my bad.

ktt2 groupbuy

Durk isn’t from O Block

The only popular rapper that’s still alive from O Block is Keef

I hope the college isn’t buying it. They’re already taking over Hyde park and cacs are starting to be in the dro more.

youtube disciples already on it

Any Chicago natives wanna shed light on the ramifications? From what I’ve seen seems like people think this might lead to another war, what with people displaced and forced to move to new areas

I thought cause he was associated with Keef and Von that he was, my bad.

R/Chiraqology is group funding as we speak

RIP VON

He would’ve been trying to buy it

If everyone gotta move around this is going to be terrible. You’re moving them to different areas, o block isn’t in the nicest spots because you got the g’s a block down but at least they’re gated. I think communities like o block are needed. S*** got worse here when they tore down all those project buildings. Looking back that was probably one of the worst things that could’ve happened to the city.

Michelle Obama is from O Block? :word:

KEEEEFFF

Yeah a couple of my buddies from Marquette saying the same thing. That area getting gentrified like that?

Yeah. That’s one of her famous “fun facts”

Why would durk buy oblock its not where hes from. Most poppin rappers that were repping it have passed away that i can think of

Wow that is fr very intriguing I appreciate this “fun fact”

"I thought cause he was associated with Keef and Von that he was, my bad."

“The o in oblock stands for OTF”

Yeah they’re starting, from 61st and cottage to 63rd (less than a mile from the O) they’ve been fixing it up with modern looking apartments, made the local breakfast restaurant more fancy, and fixed up a few other stores within that area and even built a super big jewels for the college students. It’s only a matter of time before they make their way down to king drive making it more appealing for them.

"Lets kiss"

Boy that rent about to be $1750 for a one bedroom and no in unit laundry. It happens every time

Time for the dinner with jay z crowd to get to work