As the program manager for the City of Chicago’s Neighborhood Stabilization Program, Mercy Portfolio Services congratulates Karry L. Young Development for winning The Good Neighbor Award for their work on two developments: 1337 S. Central Park Ave. and 6447 S. Yale Ave.
The Chicago Association of Realtors® (C.A.R.) established the Good Neighbor Award in 1992 to encourage rehabilitation and redevelopment in the city’s North Side neighborhoods. Today, the awards showcase groundbreaking rehabs, redevelopments, historic preservation, and new construction projects across the city and suburbs. Award winners are visionaries who set new standards of excellence and make the Chicago area a better place to live.
Both buildings were funded through the City of Chicago’s Neighborhood Stabilization Program. They were both residential, multi-unit renovations. Both were gutted and completely renovated in an effort to provide quality, affordable housing. Thanks to Karry L. Young Development, both previously derelict buildings now collectively offer Chicagoans 36 quality, affordable apartments.
“We were thrilled that Karry L. Young Development has been named a recipient of The Good Neighbor Award,” said Darlene Dugo, Regional Vice President of Mercy Portfolio Services. “Both buildings exemplify how existing buildings can be repurposed to create beautiful, functional living spaces while preserving Chicago’s historic character.”
About Karry L. Young Development
For over 30 years, Karry L.Young Development, LLC has built its commercial development, design and construction and management and leasing practice on several mixed-used projects. Proudly family-owned and operated, our rich history combined with our extensive knowledge of today’s ever-changing demands, allows us to deliver the best quality solutions for our clients from challenging stand-alone rehabilitation projects to complex multi-use design-built projects. Since the founding of Karry L Young Development, LLC in 1982, the firm has consistently ranked within the top U.S. real estate development firms that specialize in development, consulting and construction.
About Mercy Portfolio Services
Mercy Portfolio Services, a subsidiary of Mercy Housing, is responding to the national foreclosure crisis by managing development initiatives and creating innovative capital programs and technology platforms with the goal of stabilizing neighborhoods and preserving affordable, low-income housing in cities across the country.