Even in the heart of winter in Chicago, a new beginning started last month at the grand opening of the Casa Maravilla affordable senior housing facility and satellite center in Chicago’s Pilsen community. Mayor Richard M. Daley, Alderman Danny Solis and members of the Pilsen community celebrated the 73-unit affordable senior rental building and senior satellite center that will be operated by the Department of Family and Support Services. The $20 million dollar, five-story building is a mix of 28 studio, 32 one-bedroom and 13 two-bedroom units ranging in size from 478 to 828 square feet. The development is part of a campus environment that provides a range of housing and services, including Casa Morelos, a 45-unit mixed-income rental housing complex and the adjacent Alivio Medical Center.
“Chicago’s seniors are one of our most valuable assets,” Mayor Daley said. “We depend on our community of seniors to serve as role models to our families and communities and are grateful for the significant contributions they have made to the culture of our neighborhoods and fabric of our city. We are proud to work at all levels of government to support our seniors who spent a lifetime building this great city. The creation of more quality affordable housing for seniors and families is one of the ways that we are building a better future for the people of Chicago.”
The development is part of the City’s five-year senior housing plan that has committed more than $433 million to support the creation of 4,022 new units of quality, affordable senior housing by the end of 2010. The City invested $4 million in loans, $800,000 in tax credits, generating $13.2 million in equity and an investment of $108,400 in donations tax credit equity which includes from the Illinois Housing Development Authority, the Illinois Department of Commerce and Economic Opportunity and a private mortgage loan.