Park Manor Senior Housing Breaks Ground on $25M Permit

A $25.0 million City of Chicago construction permit, issued Oct. 9, shows ground has broken on Park Manor Senior Residences, a 52-unit independent-senior building planned for the Chatham neighborhood’s stretch of Martin Luther King Jr. Drive. Permit #101081192 covers new construction of a five-story building with 44 one-bedroom and 8 two-bedroom units at 8332 S. Dr. Martin Luther King Jr. Dr., with Skender Construction LLC as general contractor and Park Manor Phase I, LLC as the owner of record.

The project traces back to a City Council zoning approval reported by YIMBY Chicago, which named the development team as ZPACT Developers LLC and SPM Properties and Development, working with Park Manor Christian Church on a vacant site. YIMBY Chicago reported the project was selected for Low-Income Housing Tax Credit funding and estimated the total cost at roughly $32 million, with city officials noting at the time that additional financing still had to close before construction could start. The $25.0 million figure on this permit is the applicant’s declared construction cost, not the project’s total development budget.

Why it matters

The permit is the clearest sign yet that the financing gap YIMBY Chicago flagged after City Council approval has closed. For builders working the South Side affordable-housing pipeline, a LIHTC-backed senior project moving from approval to a construction permit is a useful data point on how fast tax-credit-financed deals are closing in Chicago right now. For Chatham residents, it means a long-vacant site on King Drive is becoming 52 units of housing for independent seniors aged 63 and up.

The numbers

Declared valuation: $25,000,000. Units: 52 (44 one-bedroom, 8 two-bedroom). Height: 5 stories. Address: 8332 S. Dr. Martin Luther King Jr. Dr., community area 44, Ward 6. General contractor: Skender Construction LLC. Owner of record: Park Manor Phase I, LLC. Reported total project cost (YIMBY Chicago): approximately $32 million.

What’s next

Chicago’s Chatham neighborhood should see vertical construction follow this permit. This desk will watch for a certificate of occupancy and for Park Manor Christian Church’s role in resident selection as the building nears completion.