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Committee approves option agreement with Penrose for affordable housing at 4242 Lorraine Ave
Summary
The committee approved an emergency ordinance authorizing an option-to-lease agreement with Penrose Holdings LLC for city property at 4242 Lorraine Ave to pursue a 62–72 unit affordable housing project, using an option to secure over $1,000,000 in Federal Home Loan Bank funds while avoiding choice‑limiting site control.
The Committee of Development, Planning & Sustainability on Feb. 3 approved an emergency ordinance authorizing the director of development to enter an option‑to‑lease agreement with Penrose Holdings LLC (or its designee) for city property at 4242 Lorraine Ave for future redevelopment into affordable housing.
City staff member Trudy Andrzejewski briefed the committee that the site—home to the McCafferty Health Center—has public health occupying roughly 25% of the building and will be vacated in March when services relocate. Andrzejewski said the city issued a request for qualifications in fall 2024 and selected Penrose to pursue an affordable housing development…
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