CHICAGO-Bickerdike Redevelopment Corp. held its grand openingTuesday for the new Rosa Parks Apartments here in the Humboldt Parkneighborhood. The $27.2 million complex consists of 94 affordablerental homes in eight buildings.

The properties were built over vacant, abandoned homes in anarea bounded by Kedzie and Drave avenues, Huron Street and FranklinBoulevard. The city conveyed the parcels, worth $2.2 million, toBickerdike to build the complex, and also invested $7.1 million inloans, $3.5 million in tax increment financing and $713,000 fromthe Chicago Low-Income Housing Trust Fund.

The development features eight one-bedroom, 36 two-bedroom, 45three-bedroom and five four-bedroom apartments in variousconfigurations, including a 27-unit, four-story building. Theunits range from 720 to 1,300 square feet in size with monthlyrents projected to be between $482 and $1,028.