Chicago Housing Commissioner Ellen Sahli recently joined Ald. Ray Suarez (31st) other City officials and members of Senior Lifestyle Corporation to officially break ground for Senior Suites of Kelvyn Park, a new $20.1 million affordable rental complex for seniors.  The ceremony marked the start of construction for a proposed 85-unit development, which will be built at 2701-33 North Cicero Avenue with ground-floor space for a Department of Senior Services Center in the 31st Ward.

Senior Suites of Kelvyn Park will bring 25 studios and 60 one-bedroom apartments, complete with bathroom and kitchen facilities, at initial monthly rents from $650 to $795. The apartments in the six-story building will be available to seniors, 62 or older, whose incomes meet federal guidelines.  The main floor will also contain a lounge, dining area and management offices. Other amenities include laundry facilities and on-site parking.

The 75,000-square-foot-facility, to be built in partnership with Senior Lifestyle Corporation, will also offer monthly housekeeping, transportation for tenants and a variety of senior-friendly activities.  The City will invest up to $5.6 million in loans, $800,000 in tax credits, generating $7.2 million in equity and $3.1 million in TIF assistance. Other financing includes funding from the Illinois Housing Development Authority and a private bank loan.

For more information on the project, click here.

If you're new here, you may want to subscribe to our Free Email Subscription To Senior Housing News or use our RSS feed. Thanks for visiting!