New 6 Corners Senior Housing Moving Forward

New 6 Corners Senior Housing Moving Forward

 

We broke ground this week on The Kilpatrick Renaissance at 4117 N. Kilpatrick. This 98-unit senior housing project will allow our elderly residents to stay in the neighborhood.I worked to make this project happen because I am committed to creating opportunities for our seniors to stay right here in this community, instead of having to move away when they no longer are able or want to maintain a single-family home.This is a $21 million investment in our community that is driven by the fundamental idea that we value our neighbors, and want to make sure they have access to the resources they need to remain where they want to be.

The former industrial site will become home in December 2014 to the residents of the 98-unit building, complete with a sunroom, rooftop terrace, fitness center, library, walking path and park. The park will also be available to the neighboring community. The apartments will be a mix of studio, one- and two-bedroom units.

Major support from the City of Chicago made the $21.4 million project possible. The City provided a $3.3 million low interest loan and $1.5 million in Low Income Housing Tax Credits. Ninety-one of the units will be reserved for tenants earning up to 60 percent of area median income. A $900,000 allocation from the Chicago Low Income Housing Trust Fund will reduce rents on 10 of the units to support tenants earning less than 30 percent of area median income.

In the coming years, we will need hundreds more senior housing units to accommodate our senior population and allow them to age in place. I’ll continue to work to close the gap.

If you are interested in becoming a Kilpatrick Renaissance resident, contact my office for additional information.

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