Churchview Senior Supportive Living
Churchview Senior Supportive Living, located in Chicago, IL. is an existing supportive living property consisting of eight-six units for seniors that are 65 and older. The property was built in 2004 utilizing the 4% LIHTC program when it was originally constructed. The renovations to the property will include updates to resident units including new kitchens and bathrooms, upgrades to the common areas, painting and repair major building systems including the roof and mechanical systems. The property will continue to offer a wide array of supportive services to the residents of the community including meals, assistance with daily activities, transportation and housekeeping. The project will continue to serve low income seniors whose household income does not exceed 50% of the area median income. Residents of the property will receive assistance with their monthly services fee thru the State’s Medicaid waiver program.
The City of Chicago has allocated the 4% Low Income Housing Tax credits and has issued the Tax Exempt multi- family revenue bonds to get the project built as well as providing CDBG gap financing. Legacy Bank provided the construction and long term debt thru the direct purchase of the project bonds. The property is slated to be completed in January of 2024.
|Sponsor Name: Greater Southwest Development Corporation
NDC Equity Investment: $8,777,237
Total Development Cost: $26,940,960