A sprawling apartment complex next to the Obama Presidential Center will remain affordable through the middle of the century and get $4 million in needed renovations, its new owners said.
The 318-unit Jackson Park Terrace Apartments, 6040 S. Harper Ave. in Woodlawn, were sold for $25 million to Jonathan Rose Companies and Preservation of Affordable Housing, the companies announced Thursday.
The complex hosts a mix of apartments affordable to residents making up to 60 percent of the area median income, or $62,520 for a four-person household; and apartments affordable to those making up to 80 percent of the area median income, or $83,350 for a four-person household.
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