The Illinois Housing Development Authority (IHDA) has announced that it has approved almost $10 million in low-income housing tax credits (LIHTCs) in its first allocation round. Thirteen developments with nearly 700 affordable housing units will be built or preserved across the state.
The LIHTC allocations will generate an estimated $89 million in private equity and more than 1,400 jobs across the state, according to IHDA.
The developments receiving allocations, which include the renovation of a former nursing home and the replacement of foreclosed single-family properties into homes for working families, are:
- Axley Place in Glenview: 13 seniors housing units by Housing Opportunity Development Corp.;
- Diamond Senior Apartments of Princeton in Princeton: 48 seniors housing units by Diamond Development;
- Humboldt House in Chicago: 36 rehabbed units by Thresholds;
- The Landings at Belle Meadows in Alton: 60 rehabbed units by Herman and Kittle Properties, Inc.;
- Macoupin Homes in Staunton, Gillespie, and Bunker Hill: 38 new construction units by Macoupin Housing Services;
- Morton Senior Residences in Morton: 61 rehabbed seniors units by MV Affordable Housing;
- Mundelein Apartments in Mundelein: 40 new construction units by VeriGreen Development, LLC;
- Phil Haven in Wheeling: 50 new construction units by Daveri Holdings, LLC;
- Reclaiming Southwest Chicago in Chicago: 30 rehabbed units by Brinshore Development, LLC;
- St. James Place in Pontiac: 27 new construction units by Livingston Property Development;
- Vermilion Disability Supportive Living Facility in Peoria: 105 new construction units by Vermillion Enterprises, LLC;
- The Villas at Vinegar Hill in Springfield: 92 seniors housing units by the Springfield Housing Authority; and
- Woodridge Horizon Senior Living Community in Woodridge: 93 seniors housing units by The Alden Foundation
For more allocation details, visit http://www.ihda.org/developer/documents/2014LIHTCRoundIApprovedAllocations_000.pdf.