Illinois Housing Development Authority (IHDA) Executive Director Gloria L. Materre, Mayor Richard M. Daley, Alderman Ray Suarez, Department of Family and Support Services Commissioner Mary Ellen Caron, Department of Community Development First Deputy Commissioner Ellen Sahli and members of the Senior Lifestyle Corporation recently celebrated the grand opening of a new development featuring 85 new affordable homes for seniors in Chicago’s Kelvyn Park neighborhood on the city’s Northwest Side. IHDA provided a $1.25 million low-interest loan from the Illinois Affordable Housing Trust Fund to build Senior Suites of Kelvyn Park, 2715 N. Cicero Ave., Chicago. IHDA, the state agency dedicated to creating affordable housing for Illinois residents, was a key partner in the construction of the 60 one-bedroom and 25 studio apartments. 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.
Through a partnership with the City of Chicago, the six-story, 75,000 square foot development also houses a senior center to connect seniors with services supporting their independent lifestyle. The center features a fitness center, computer lab, cafeteria and other amenities. Seniors who live in the surrounding neighborhood also will benefit from the center. Since the mid-1990s, IHDA has invested more than $41.7 million in low-interest loans and tax credit equity to join Senior Lifestyle Corp. in adding affordable housing throughout the Chicago area.
“Seniors across the state are living on a fixed income, and may need to make choices about expenses that could impact their ability to afford safe and decent homes. It’s our role as the state’s housing finance agency to work with public and private partners to create more affordable options, such as Senior Suites of Kelvyn Park,” said Materre, IHDA Executive Director.
“Our Senior Suites developments provide Chicago’s seniors an opportunity to stay within their home neighborhoods in affordable, high-quality residences,” said William B. Kaplan, chairman of Senior Lifestyle. “With the support of city and state leaders, we are able to continue to address the strong housing demand of its senior citizens.”