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The Near West Side, one of Chicago's most fashionable neighborhoods in the mid-nineteenth century, had experienced significant decline by the Depression Era. Soon after the founding of the Chicago Housing Authority in 1937, it began replacing deteriorated buildings in the neighborhood with new multi-unit public housing developments. Built between 1938 and 1961, the area's four large housing complexes, known jointly as ABLA, include: the Jane Addams Houses, Robert H. Brooks Homes and Extension, Loomis Courts, and Grace Abbott Homes.

In 1945, the City's Bureau of Parks and Recreation created Fosco Park on Board of Education property to serve the growing population. The two-acre park included a playing field and a small brick recreation building. The City named the park for Peter Fosco (1894--1975), president of the Laborer's International Union of North America and former Cook County Board commissioner.

In 1959, the ¿ì²¥ÊÓƵ assumed management of Fosco Park. The following year, the Park District also began leasing an adjoining 1/2-acre housing authority property which included the Robert H. Brooks Homes Community Center. The Board of Education transferred ownership of its two acres to the Park District in 1991.  In 2010 and 2015, the Chicago Housing Authority transferred property to the ¿ì²¥ÊÓƵ for the park.

At the turn of the 21st century, Fosco Park and its surrounding neighborhood experienced significant changes. Some of the existing ABLA housing units were rehabilitated, while others were replaced with new low-rise residences. Fosco Park's small brick recreation building and the adjacent community center were razed and a new state-of-the-art facility was erected at 1312 S. Racine. The 80,000-square-foot Community Center opened in Summer 2005.