The Illinois Housing Development Authority (IHDA) has awarded $12.2 million in low-income housing tax credits (LIHTCs) for the creation of 955 affordable housing units for families, seniors, and people with special needs in eight counties. Almost a quarter of the units—220—will be in communities where less than 10% of housing is affordable to working households.
According to IHDA, the LIHTCs for the 11 affordable housing developments will generate an estimated $124.4 million in private capital. More than 2,500 full-time construction jobs and 360 ongoing positions also are expected from the construction activity.
“The LIHTC not only addresses the immediate need for affordable rental housing throughout Illinois but makes our communities stronger, more vibrant, and inclusive,” said IHDA executive director Audra Hamernik, in a statement. “Affordable housing is an investment that results in healthier cities and stronger financial foundations for working families, and we’re proud to support the state’s development partners with this important resource.”
The developments receiving LIHTCs include:
- Access West Cook in Bellwood: IFF will transform 23 foreclosed properties in Bellwood, Berwyn, Forest Park, and Maywood into 50 units of supportive rental housing for households with disabilities through the Home First Initiative;
- Graceland Apartments in Des Plaines: Nonprofit Over the Rainbow Association will develop a 33-unit building that will provide affordable, independent living for households with physical disabilities;
- Fulton Commons in Fulton: Bear Development will create a new three-story building with 40 affordable apartments for working families;
- Garfield School Senior Residences in Moline: Gorman & Co. will transform the 1901 school building into 57 affordable apartments for residents 55 and older;
- Lathrop Homes, Phase 1A in Chicago: Related Midwest, Bickerdike Redevelopment Corp., and Heartland House will partner on the revitalization of 15 buildings and 410 units in the historic Julia C. Lathrop Homes development on the North Side. The first of a three-phase plan will include public, affordable, and market-rate housing as well as green and open space;
- Lincoln Park Villas in O’Fallon: RHC Development and Regional Housing Development will construct 14 buildings with 72 affordable apartments for seniors;
- New Lenox Horizon Senior Living Community in New Lenox: The Alden Foundation will construct 53 apartments for residents 52 and older;
- Prairie Meadows Phase II: Illinois Community Action Development Corp. will construct 30 single-family rental homes for low- and moderate-income families. The project is adjacent to the first phase and will offer residents the opportunity to purchase their homes after the compliance period expires;
- Whiting Hall in Galesburg: The historic building that was built in 1857 as a dormitory for Knox College and turned into residential units in 1981 will undergo renovation. The 60 affordable units will serve seniors and people with disabilities;
- Wind Mill Manor in Batavia: Iceberg Development Group, The Burton Foundation, and CUBIT Development Group have partnered to build the mixed-income, 80-unit development for seniors; and
- Woodlawn Station in Chicago: The latest phase in Preservation of Affordable Housing’s Woodlawn Choice Initiative, the new construction, mixed-use building will feature 70 apartments on the former site of the Grove Parc apartment complex.