The Illinois Housing Department Authority (IHDA) recently celebrated the grand opening of a new affordable apartment complex for independent seniors in south suburban Crete, Illinois. St. James Senior Estates II, which has a total of 45 new apartments, complements the existing 40 unit project already in place in the same location. Developed by the Franciscan Sisters of Chicago Service Corp., the project has 21 two-bedroom and 24 one-bedroom units that features a club room and fitness center. To fund the project, IHDA invested nearly $7 million in federal American Recovery and Reinvestment Act (ARRA), federal HOME loan and Illinois Affordable Housing Tax Credit funds.
“Federal stimulus dollars are enabling affordable housing developments, such as St. James Senior Estates II, to be built across Illinois,” said Gloria L. Materre, IHDA Executive Director. “We are proud to play a key role in making sure seniors in the Crete community have quality rental homes that fit into their budgets.”
“We thank IHDA for providing the financing that made it possible to build these apartments for seniors, and create much-needed affordable housing in this community,” said Karen Miller, Corporate Director of Affordable Housing, Franciscan Sisters of Chicago Service Corp.