Two Kane County Affordable Housing Developments Share in State Funding Support

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Nineteen affordable housing developments across Illinois including two in Kane County have been awarded funding to create or preserve 1,023 units of housing for families, seniors and individuals with disabilities.

The $75,000,000 was approved by the Illinois General Assembly through the COVID-19 Affordable Housing Grant Program (CAHGP).

  • Fox Valley Apartments (Aurora): The City of Aurora is donating the former Lincoln Elementary School and Mary A. Todd School to Visionary Ventures to be adaptively redeveloped into 47 units of affordable housing. The Lincoln site, originally built in 1892, will be renovated into 14 units with an additional new-construction building adding 22 more adjacent to the former school. The Todd site, constructed in 1934, will be transformed into 11 units of housing and will contain an on-site health clinic for area low-income families.
  • Hanover Landing (Elgin): Hanover Landing is a supportive housing development that will serve residents living with disabilities and those exiting homelessness. UP Holdings will develop the 40 unit, fully furnished new construction building that will offer both on-site and off-site services through Hanover Township to allow for residents to live independently.

CAHGP was funded through the Coronavirus State and Local Fiscal Recovery Fund (SLFRF), which was authorized in the American Rescue Plan Act (P.L. 117-2) in March 2021. The state of Illinois received $8.1 billion in SLFRF to support its response to and recovery from the COVID-19 public health emergency.

SOURCE:  Illinos Housing Development Authority

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June 20, 2022 at 09:32AM

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