The Habitat Co. Grows IL Affordable Management Portfolio
The Drexel Properties, a 155-unit community in Chicago's Kenwood neighborhood, brings the company's affordable housing assignments to more than 10,000 units.
The Drexel Properties
The Habitat Co. has taken another BLVD Capital property under its management. The Drexel Properties is a 155-unit affordable community in Chicago’s Kenwood neighborhood and it marks the fourth asset the company has managed on behalf of BLVD Capital since May 2017.
Located at 4420-4428, 4532-4542 and 4700-4712 S. Drexel Blvd. and 4725-4727 S. Ingleside Ave., The Drexel Properties consists of four courtyard-style buildings encompassing one- to three-bedroom apartments. The property features retail options including a hairdresser and grocery store.
The other three BLVD Capital developments managed by The Habitat Co. in the Chicago area and in its proximity are Garden Estates, a 174-unit property in Michigan City, Ind., Indian Trails Apartments, a 180-unit asset in Chicago’s Roseland area, and Ridge Garden Apartments, a 132-unit community in Chicago Ridge, Ill.
“As we continue to see out-of-town owners and investors drawn to Chicago’s multifamily market, it makes perfect sense that they would want a boots-on-the-ground property management firm that has deep ties to the local market,” said Matt Fiascone, president of The Habitat Co., in a prepared statement.
The BLVD Capital-owned assets increase The Habitat Co.’s affordable housing management portfolio to more than 10,000 units. Last November, the company completed a $16 million rehabilitation program of an affordable Chicago community as part of the city’s $1.3 billion Five-Year Housing Plan.
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