The proposed Pullman Artspace Lofts—the first new multi-family residential development to come to the historic Far South Side neighborhood of Pullman in decades—is still on track after earning important approvals on the city, state, and federal levels. With over $12 million in Historic Rehabilitation Tax Credits and Low Income Housing Tax Credits secured upfront, the team behind the project is now focused on raising the remainder of its $16.2 million price tag.

Located on Langley Avenue between 111th and 112th streets and within the boundaries of the Pullman Historic District, the plan calls for a new three-story, architecturally contextual brick building designed by Stantec (formerly VOA Associates). Bookending the new construction are two existing historic structures that will be restored and incorporated into the Artspace Lofts development.

Combined, the three buildings would deliver 38 affordable-rate live/work apartments aimed specifically at artists. These units are expected to rent for between $400 and $1,200 per month. The plan also includes new community space in the form of art studios, classrooms, galleries, and meeting rooms.

The development comes from a team comprised of Minneapolis-based Artspace Projects, local nonprofit Pullman Arts, and the Chicago Neighborhood Initiatives (CNI). The partnership hopes to close on the site in mid-2017 and anticipates a construction timeline of 12 months.