Cedar Park Neighbors (CPN) is proud to support the development of a new apartment building at the corner of 48th Street and Chester Avenue. This 76 unit apartment building will have 20% of the units (15) set aside as affordable (at 40% of the area median income) for a term of 50 years. The rents at this level would be in the range of $725 for a one‐ bedroom apartment, and $870 for a two‐bedroom apartment.

CPN is well aware of the need for more affordable housing options in our neighborhood. It’s a complicated issue, and this project has raised a lot of issues and prompted very intense discussions. For CPN, however, the answer here is simpler than it may appear. The current proposal will provide 15 units of affordable housing in a neighborhood that desperately needs it. The other option, a by‐rights development, will provide 0 units. We feel that getting 15 truly affordable units, which will be deed restricted for 50 years, is a worthwhile goal.

Please sign your name and street block in support of this development.