Little Italy could be the first of three Chicago communities to host a library and mixed-income housing hybrid project.

The $36.1 million housing development on Taylor Street, which is scheduled to be voted on at City Council’s Nov. 8 meeting, would combine a Chicago Public Library branch with affordable one- and two-bedroom housing units. 

The Taylor Street building would feature 73 units for rent with 37 designated for Chicago Housing Authority residents, 29 rented at affordable rates and seven at market rates, according to an Oct. 11 mayoral press release. 

“[It’s] a strong message to residents and the larger [Little Italy] community that the city is working together to provide amenities and housing opportunities to them,” said Molly Sullivan, CHA’s senior director of Communication and Media Relations. 

Funding for this project would include $26 million in housing revenue bonds, $7 million in tax increment financing and various other sources of funding, according to the press release. 

CHA will also contribute $15.8 million in board-approved funding, according to an Oct. 18 CHA press release. Two similar library housing projects have been planned for the West Ridge and Irving Park communities. 

The Taylor Street project, which is part of a larger redevelopment of the University of Illinois at Chicago community, will include library upgrades with new media and early childhood labs, Sullivan said, adding that the development will also have on-site parking, roof terraces, an exercise room and laundry facilities. 

Similar mixed-income housing projects are being working on in University Village to help revitalize the community but have no scheduled completion date, according to O’Neill. 

The new apartments should help give homes to residents who need housing the most, said Dennis O’Neill executive director of Connecting4Communities, a community group that advocates for housing and education concerns in the UIC area. 

“We’ve always had issues with people finding housing because the supply of housing in this community is restrictive,” O’Neill said. 

Sixty-six percent of Little Italy residents rent homes rather than owning, and 34 percent of its residents earn less than $25,000 a year, according to nationwide survey and federal data analyzation website Niche. 

“Affordable housing is needed, but what is more needed is housing for poor people,” said William Sampson, professor of Public Policy and Chairman of Public Policy at DePaul University. “[But], affordable housing does not provide that [for them].” 

Similar projects to the Taylor Street Library and Apartments initiative could be the next step for many cities when developing affordable housing as they can contribute more than housing to the community: They can bring library services to the people of the greater community, according to Sullivan. 

“Given Chicago’s track record and Mayor [Rahm]Emanuel’s leadership on all of these issues, we certainly believe this is a model for other to follow,” Sullivan said.

Updated Oct. 31 3:50 pm. The previous version of this story said Two similar library housing projects have been planned for the Near West Side and Irving Park communities. The two projects are planned for the Irving Park and West Ridge communities. The Chronicle regrets this error.