Urban Partnership Bank Revitalizes South Side Neighborhood

Urban Partnership Bank
Thursday, July 31, 2014

Urban Partnership Bank has extended $38.7 million of credit to commercial borrowers so far in 2014. The bank's newsletter highlights several of the loans, including $1.1 million in financing for investment rentals in the Park Boulevard development, a new mixed-income community located in Chicago's South Side. The project is a regeneration of the area that was once the site of the Chicago Housing Authority's heavily distressed Stateway Gardens highrise public housing project. The Park Boulevard development will create much-needed affordable student housing for the nearby Illinois Institute of Technology. It will contain over 400 units and feature new shops including a Starbucks and a Jimmy John's sandwich shop.