Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Chicago-based developer opens suburban affordable housing

07/08/2016

Download PDF

A freshly-built, suburban affordable housing complex called The Villas has reached completion in Lake in the Hills, Illinois. Sixty low-cost, comfortably appointed residences now sit northwest of the Windy City. The community welcomed the development opening with a ribbon-cutting celebration in late June.

Suburban affordable housing opening

U.S. Rep. Peter Roskam (right) and Dan Kotcher, DKI, Inc. (center) / MK Communications

Chicago-based developer and builder DKI Inc. formed a private-public partnership in an effort to attend to the needs of the local community. The apartments help to deliver affordable housing for seniors, working families and lower-income residents of McHenry County.

“Today’s opening demonstrates what can be accomplished when public and private entities work together and share a common commitment to improving peoples’ lives and building stronger communities,” Dan Kotcher, president of DKI, said in a statement.

What to expect from the Villas

The Villas received LEED Silver certification through green building elements, energy efficient appliances and lighting. Amenities include a clubhouse, business center, fitness room, community room and club room.

The Villas received LEED Silver certification with green construction, appliances and lighting

Click To Tweet

The club room plays host to a number of support services, programs and activities for the Villas’ tenants.

The suburban affordable housing development spans 72,000 square feet total, divided into eight distinct two-story buildings. Apartments range from 850 to 1,300 square feet and come in one-, two- and three-bedroom layouts. Handicap accessible apartments for mobility and sensory impaired residents are also available.

The rental units sit directly adjacent to the Residences of Lake in the Hills, a 92-unit tax credit development built in 2013 dedicated to senior housing.

DKI implemented a number of lending tactics to make the affordable housing complex a reality, including an Illinois Housing Development Authority (IDHA) home loan, JP Morgan Chase loan, equity from Low Income Housing tax credits (issued by IDHA), a Department of Commerce and Economic Opportunity grant and an AHP grant.

Email Jennifer Riner

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Fast (and well-timed), video-tour app Replay Listings hits all the marks

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Bring your design in-house with RelayThat’s easy-to-use tools

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Digs app unearths the saving secrets to homebuying

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Trending flooring styles that sell

    For many buyers, flooring is an unexpectedly key factor in the choice of a home. Flooring can unify ...

  • PlanetRE’s consumer app is more MLS than search friendly

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Daily Dispatch: Has the virtual brokerage finally arrived?

    Every day, Inman founder Brad Inman texts and talks with many of the most important people in the re...

  • Daily Dispatch: The new vacation rental landscape

    Every day, Inman founder Brad Inman texts and talks with many of the most important people in the re...

  • Overcoming the sales hurdles of outdated design

    Properties with dated design can be a challenge for luxury real estate agents, but they can also pre...

  • Real Vision is the real deal for one-stop listing marketing

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Think Like a CEO S4E1 – Pivot, Step 1: Be Safe & Strong

    Shifts can shake even the best of leaders to their cores, but in order to come out successful on the...

July 2020
Mon Tue Wed Thu Fri Sat Sun
 12345
6789101112
13141516171819
20212223242526
2728293031  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...