$40.8 Million Development in Bronzesville Continues the Transformation of the Former Robert Taylor Homes Site with Affordable and Market-Rate Housing
CAMDEN, N.J., June 24, 2025 — The Michaels Organization, a national leader in residential real estate, in partnership with Brinshore Development, today announced the successful financial closing of Legends South Phase A3, a $40.8 million mixed-income housing development in Chicago’s Grand Boulevard community. The development represents a significant milestone in the ongoing transformation of the former Robert Taylor Homes site in the Bronzeville neighborhood.
Developed in partnership with the Chicago Housing Authority, Legends South A3 will feature 52 residential units across two buildings: a four-story elevator building with 40 apartments and a three-story walk-up building with 12 apartments. The development will include approximately 3,500 square feet of commercial space on the ground floor of the four-story building.
In a separate, but related transaction, Chicago-based homebuilder Greenline Homes will be developing 8 affordable homes along this same site. Collectively, these developments will help Chicago families live well and create community.
“Legends South exemplifies our commitment to creating Communities That Lift Lives,” said Andrea Keeney, Vice President of Development of The Michaels Organization. “This development will provide quality housing options for residents across the income spectrum while contributing to the continued revitalization of this historic Chicago neighborhood.”
Mixed-Income Community Design
The development is thoughtfully designed to serve a diverse population:
- 21 units (40%) designated for Chicago Housing Authority (CHA) residents with rents set at 60% of area median income (AMI) (no 50% CHA units)
- 3 units (5%) designated as affordable housing at 50% of AMI
- 18 units (35%) designated as affordable housing at 60% of AMI
- 10 units (20%) available at market rate
The unit mix includes 19 one-bedroom, 26 two-bedroom, and 6 three-bedroom apartments, with full accessibility compliance.
Innovative Financing Structure
The development benefited from a financing package combining multiple funding sources:
- 9% Low-Income Housing Tax Credits and Illinois Affordable Housing Tax Credits awarded by the City of Chicago Department of Housing
- RAD (Rental Assistance Demonstration) Project-Based Vouchers
- CHA MTW (Moving to Work) loan of $6.72 millions and CAA (Consolidated Appropriations Act) loan of $850,000
- Tax Increment Financing (TIF) loan of $10 million
- Various other public and private funding sources
Development Team
The project brings together leading professionals in affordable housing development:
- Developers: Brinshore Development and The Michaels Organization
- General Contractor: GMA Construction Group
- Architect: Landon Bone Baker Architects and Brook Architecture
- Property Manager: Michaels Management
A groundbreaking ceremony is planned for July. Construction is projected to be complete in Q2 2026.
