Retirement home among Illinois affordable housing projects
MAYWOOD, Ill. (AP) — A long-vacant suburban Chicago retirement home is being renovated for use as senior housing as part of an effort to create more affordable housing for vulnerable residents statewide.
Deputy Gov. Sol Flores and other officials broke ground last week on the project in Maywood, about 10 miles west of Chicago. The building housed the Baptist Retirement Home but has been vacant since 2005. It will be converted into 100 living units for seniors.
The project, known as Maywood Supportive Living, received $29.7 million in financing from the Illinois Housing Development Authority, along with other assistance. Centrust Bank donated the property, which generated $3.5 million in housing tax credits.
Illinois is accepting applications for approximately $60 million in funding through its Permanent Supportive Housing Development Program to develop more projects like Maywood Supportive Living.
State officials said additional federal funding helped increase the amount available in this round of funds.
Flores called the Maywood project a “public-private partnership at its best.”
“A truly strong society is one that delivers peace, safety, security and care to our elders. It’s with that vision in mind that this administration is deeply proud to help fund the Maywood Supportive Living project,” Flores said.