Chicago Affordable Housing Project Has Completed

New units at 2909 W. Irving Park offer lower-cost housing options for eligible Chicago residents.

Updated on Oct. 2, 2026 in Apartments

Bold vector editorial illustration of a stylized red-brick apartment building facade with clean geometric windows and a simple entryway. — Visionary Ventures has finished construction on a new 45-unit affordable housing development at 2909 W. Irving Park in Chicago. AI Illustration. Upload story photo >

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Visionary Ventures has completed construction on a 45-unit affordable housing project located at 2909 W. Irving Park in Chicago. The development provides housing for individuals and families earning at or below 60 percent of the area medium income.

Why it matters

This project addresses local housing shortages for the Indigenous population, who are disproportionately rent burdened. It helps expand access to stable, lower-cost housing amid a climate of rising city rental rates.

The development will serve households earning at or below 60 percent of the area medium income, with income limits set at $35,580 for individuals and $50,760 for families of four. This arrives as Chicago reported a 3.1 percent annual rent increase as of June 2026.

The players

Visionary Ventures

A developer that manages housing projects and residential construction.

City of Chicago

The local government body that provides housing bonds and urban planning oversight.

Canopy

An architecture firm that develops designs for residential and commercial structures.

Full Circle

A real estate development collaborator working on community housing properties.

The details

The property at 2909 W. Irving Park was designed by architecture firm Canopy and developed by Visionary Ventures in collaboration with Full Circle. It features a fitness room, office space, and a gathering hall to support residents. Funding was provided by the City of Chicago through a $6 million Housing and Economic Development Bond, alongside $950,000 in permanent supportive housing funds.

1956: Urban Indian Relocation Act passed.
June 2026: Chicago rent increase rate measured.
Fall 2026: Construction expected to conclude.

Money Landscape

This development serves as a modern effort to fulfill historical commitments made under the Urban Indian Relocation Act of 1956. It reflects a broader institutional push to address housing shortages for the local Indigenous population.

Individuals and families earning at or below 60 percent of the area medium income should review their annual household earnings against the $35,580 or $50,760 limits to see if they qualify. Prospective residents may wish to consult with a housing counselor to understand application requirements.

The takeaway

This project offers a significant housing option for lower-income households struggling with Chicago's 3.1 percent annual rent growth. Renters looking for stability should monitor municipal housing portals for future application openings on similar developments in Rogers Park.