New Development for Low-Income Seniors Opens in Chicago
The Illinois Housing Development Authority (IHDA) celebrated the grand opening of the Casa Maravilla housing development in Chicago, featuring 73 affordable apartments for low-income seniors and a senior center.
IHDA invested federal low-income housing tax credits, generating more than $13 million in private equity to build the homes. IHDA also provided $1.3 million in a zero-interest Illinois Affordable Housing Trust Fund Loan. The development is adjacent to Casa Morelos, affordable apartments for families, also financed by IHDA and built by The Resurrection Project.
Developed by The Resurrection Project, Casa Maravilla includes 28 studios, 32 one-bedroom, and 13 two-bedroom apartments for seniors. Low-income residents will have access to a City of Chicago senior satellite center on the first floor, featuring a meal program, fitness room, computer room, library, and recreation room. These amenities also will be available to seniors who live near the development.
The Casa Maraville development features pervious paving to decrease run-off, a partial green rooftop system reducing energy consumption, and a geothermal heating system.
Monthly rents range from $350 to $750, depending on a resident’s income and the apartment size. To qualify for the affordable units, applicants’ incomes must be at or below 60 percent of the area’s median income. In Chicago, the maximum income for a one-person household is $31,560.