Chicago-based national affordable housing provider Brinshore Development listed a bulk of its Chicago portfolio, 2,435 units, for sale last week.
The portfolio spans 20 properties across the city, including 695 public housing units with the Chicago Housing Authority, according to the listing. All but one of the properties are partnerships with the CHA.
Brinshore is one of Chicago’s top affordable housing developers and is known for being a significant partner of the CHA and the city.
The developer has been instrumental in the CHA’s Plan for Transformation, the housing authority’s pledge in 2000 to tear down and rebuild tens of thousands of public housing units at mixed-income projects.
Brinshore was founded in Northbrook in 1994 by Richard Sciortino and David Brint. Brint had introduced former President Barack Obama to his long-term controversial ally Antoin “Tony” Rezko.
Brinshore has invested $4.8 billion in communities nationwide, with around 12,000 units spread across 16 states, according to its website. The firm has 66 properties in Illinois. It’s the 16th-largest affordable housing developer in the country, according to trade publication Affordable Housing Finance.
Sciortino and Brint didn’t respond to requests for comment.
A broker for the Chicago portfolio listing declined to comment.
The CHA didn’t respond to a request for comment.
In July, Brinshore, in partnership with affordable housing developer The Michaels Organization, broke ground on another phase of mixed-income housing at the CHA’s Legends South site — the former location of Robert Taylor Homes in Bronzeville and an ongoing project for Brinshore and Michaels for the last 20 years. The latest phase includes 52 housing units at a mix of affordable and market rate rents, including 21 units for the CHA’s residents. It will also have ground-floor commercial space.
“With each new phase of Legends South, we’re not just building housing, we’re helping to restore and reinvest in a historic community that has been a cornerstone of Chicago’s identity,” Sciortino said in a July news release. “This next phase continues our commitment to creating high-quality affordable housing that supports families, promotes stability and reflects Bronzeville’s resilience.”
Brinshore’s Legends South properties that are already completed are included in the list of units for sale.
The developer is also wrapping up its final phase of a 30-year development project at the CHA’s Horner-Westhaven site on the Near West Side. A ribbon cutting event is scheduled for Wednesday at Westhaven Park Station, which is included in the sale.
Properties listed for sale include:
- Westhaven Park, North Damen Avenue and West Madison Street
- Westhaven Park Towers, North Ashland Avenue and West Madison Street
- Westhaven Park Station, 145 N. Damen Ave.
- The Villages of Westhaven, 110 N. Wood St.
- Hansberry Square of Legends South, South State Street and West Pershing Road
- City Gardens, South Western Avenue and West Van Buren Street
- Gwendolyn Place, South Michigan Avenue and East 47th Street
- 4400 Grove, 4400 S. Cottage Grove
- Savoy Square, South State Street and West 43rd Street
- Mahalia Place of Legends South, South Michigan Avenue and East 43rd Street
- Coleman Place of Legends South, South Michigan Avenue and East 43rd Street
- Park Douglas, South California Avenue and West Roosevelt Road
- The Carling, 1512 N. La Salle Drive
- The Marshall, 1216 N. La Salle St.
- Albany Terrace, 3030 W. 21st Place
- Clybourn 1200, North Halsted Street and West Division Street
- Park Station Lofts, 6300 S. Maryland Ave.
- Irene McCoy Gaines, 3700 W. Congress Parkway