Maywood to Hold Aug. 29 Meeting on New Housing Proposal

Saturday, August 26, 2017 || By Community Editor || @maywoodnews

Maywood officials are planning to host a public informational meeting on a proposed affordable housing development. The meeting will be held on Tuesday, Aug. 29, 6 p.m. to 8 p.m., at Council Chambers, 125 S. 5th Ave. in Maywood.

The nonprofit Interfaith Housing Development Corporation (IHDC) has proposed to construct a 68-unit apartment building that will include 4,500 square feet of ground-level commercial retail space on the site of a vacant lot at 800-820 S. 5th Ave. in Maywood, which is currently owned by the village.

According to IHDC officials, the proposed development in Maywood will generate sales and property tax revenue since it will be held by a for-profit partnership. The new rental units will be available to single individuals and families. The building will be “very ‘green’,” and will include a solar hot water system.

IHDC officials said they’re willing to pay Maywood the full amount the land was appraised at. According to village documents, the land once was up for sale for $330,000, but it’s not known whether that price has changed or if it differs from the appraised value. Village officials were not available to comment on late Wednesday afternoon.

To read more on the proposal, click here. VFP

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