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.
