| Since 1994, team members include: project director Laura Weathered, NNWAC director, with 10 years of community development experience; Pam Hallett, specialist in affordable housing finance and construction management; Gerhard Zinserling, local architect experienced in loft, commercial and residential design; David Goldstein, Attorney at Law; and the chicago Mutual Housing Network, who provides training , technical assistance and advocacy. | |||
| The building is financed as condo association and governed through cooperative values and limited equity. As such, low individual cost will be maintained for future residents. The average unit is 1150 square feet with monthly mortagages estimated at $537 with $187 for monthly assessments. Shared space provides a workshop facility, roof deck garden, community room and laundry. When members move in, cooperative services will be established, offering discount buying, fax, copies, workshop space and other business related services needed by artist members, | |
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| The project requires a total investment of $3.2 million for purchase, development and renovation. The construction buget is a $70 per sf rehab within the existing structure, at an average development cost of $125,000 per unit. Plans call for mixed use design, rezoning, construction management, roof repair, insulation, replacement windows, starways, new plumbing, electrical, seperate heating and ventilation systems as well as apartments layouts within existing structures. No major masonry or structural changes are required. Construction is underway and phase one occupancy in expected late 2001 | |||
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