Friday, July 4, 2008

Obama and Chicago Housing News Story.

Boston Globe story HERE about some of low income housing developments in Obama's State Senate district. Extent of his direct involvement in any of the specific projects appears to be limited to legal representation of one non profit owner in lawsuit with city. Story does provide some additional detail about his support for housing efforts in state and federal legislatures, including support for a state housing tax credit bill.

Non profit his firm represented was owner of Grove Parc, a now foreclosed project mentioned in story. HUD Multifamily contract database I reviewed shows Grove Parc had a total of 504 assisted units, with 252 three bedroom units, and with a FMR rent level range of between 100-120% of FMR. F-47 terminated mortgage database shows a insured mortgage amount of $6.38 M.

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