The Illinois Housing Development Authority (IHDA) has reserved $24 million in low-income housing tax credits and $39 million in additional federal and states resources.
The financing will help create or preserve 16 affordable housing developments with 850 homes for low- to moderate-income families, seniors, and veterans. The developments include 11 new-construction and five rehabilitation or adaptive-reuse projects.
The notable preservation efforts include the adaptive-reuse of a closed school in Aledo and the rehabilitation of the historic Werner Brothers Storage Warehouse in Chicago’s Rogers Park.
“Every Illinoisan—present and future—deserves a safe and affordable place to call home,” said Gov. JB Pritzker. “By leveraging the low-income housing tax credit to spur millions in private development, we’re offering real housing solutions for working families, seniors, and veterans while creating jobs in construction and revitalizing communities up and down the state.”
The projects are in 11 counties across the state.
“Every one of these awards is an investment in stronger communities, a more competitive economy, and a better quality of life for families across the state, and we are committed to working with our awardees as we make sure every Illinoisan has a safe, stable, and affordable home,” added IHDA executive director Kristin Faust.
The developments approved to receive 2025 LIHTCs are:
- Northside Lofts in Aledo by Basileia Investments;
- Alton Pointe Apartments in Alton by Housing Solutions;
- 1449 Senior Estates Phase II in Aurora by Northern Lights Development Corp.;
- The Residences at River Point in Batavia by Fox River Affordable Housing Corp.;
- Mallard Point Senior Apartments in Channahon by Rhizome Real Estate Development;
- The Werner in Chicago by Visionary Ventures NFP Corp.;
- Leland Apartments II in Chicago by Mercy Housing Lakefront;
- The Blackstone in Du Quoin by Turnstone Development Corp.;
- Access Madison County in Edwardsville by Home First;
- Claridge Apartment Renovation in Evanston by Housing Opportunity Development Corp.;
- Liberty Point Residences in Gurnee by DreamLane Real Estate Group;
- Concord Villas—Midway Court Revitalization Phase 1 in Marion by Freedom Development;
- 6104 Roosevelt in Oak Park by The Community Builders;
- MacArthur Senior Flats in Peoria by Pivotal GP Holding;
- Creekside Residences in Rockford by Rockford Housing Development Corp.; and
- Nehemiah Phase V in Springfield by Nehemiah Expansion.