RHI expands affordable housing options in Chicago and suburban Cook and Lake counties - Metropolitan Planning Council

Skip to main content

RHI expands affordable housing options in Chicago and suburban Cook and Lake counties

The Regional Housing Initiative is a new and innovative tool that supports new construction, rehabilitation, and/or acquisition of mixed-income family housing near jobs and transportation.

Developers in the Chicago region are benefiting from the Regional Housing Initiative (RHI), a new and innovative tool that supports new construction, rehabilitation and/or acquisition of mixed-income family housing near jobs and transportation. The program was created to spur housing development that meets the Housing Endorsement Criteria of the Metropolitan Mayors Caucus, and addresses several priority concerns of Gov. Rod Blagojevich regarding housing in Illinois. RHI provides financial incentives through operating subsidies that stay with the development for up to 10 years (renewable). Also, developers applying for federal Low-Income Housing Tax Credits receive four extra points in their Illinois Housing Development Authority (IHDA) application scoring.

The RHI is comprised of five partners: IHDA, the Metropolitan Planning Council (MPC), and three housing authorities in the region: Chicago, Cook, and Lake. The partnership is preparing an expansion to include other counties, and better serve municipalities throughout the region in 2004.

To date, RHI has awarded subsidies to five developments: a large, new construction project in Lake County, a major rehab proposal in suburban Cook County, and three small supportive housing sites in the City of Chicago.

Terra Springs Apartments in Volo, Lake County

Carefree Development Corporation has been awarded 15 RHI vouchers for the development of family housing at the Terra Springs Apartments in Volo, Ill. The Terra Springs Apartments, 96 homes in total, will also include apartments that rent at tax credit and market rate rents, creating a new mixed-income development. It will place affordable rental units in a growing area of Lake County where new retail and for-sale development is also taking place.

Salem Hill Apartments in Hoffmann Estates, Cook County

Through moderate rehabilitation, Hispanic Housing Development Corporation and Fifth Avenue Capital Partners will convert an existing four-story apartment building located in Hoffman Estates, Ill. into a 75-unit, mixed-income development. The rehabbed building will include one-, two-, and three-bedroom homes. Fifteen units will be leased at market rate; 27 will be available for families with incomes between 50 and 60 percentof the Area Median Income; 33 will be reserved for very-low-income families. The proposal is the first step of a rehabilitation program that includesthree identical buildings and will create a substantial pool of affordable apartments for families working in the northwest suburbs.

Casa Kirk in South Chicago, Cook County

Claretian Associates will receivefive RHI subsidies for its Casa Kirk proposal, developed in collaboration with Interfaith Housing Development Corporation. Casa Kirk has been projected as a high-quality, new construction building providing affordable two-, three-, and four-bedroom apartments for 26 low- and moderate-income families of South Chicago, a community located in Chicago’s Southeast Side. This development will return 18 vacant lots to productive use, representing a substantial investment in the community.

Leland Apartments in Uptown, Chicago, Cook County

A total of 14 RHI vouchers were awarded to Century Place Development Corporation, a partner of Heartland Alliance, for its Leland Hotel redevelopment proposal. This developer will preserve the historic nature of the building, while keeping it affordable for low-income residents. By adding kitchenettes and updating bathrooms, the present 175 single-occupancy rooms in the Leland Hotel will become 133 larger, livable apartments located in the heart of Uptown , currently one of the most diverse communities onChicago’s North Side.

Wentworth Commons in Roseland, Chicago, Cook County

The Wentworth Homes proposal, a development of Lakefront SRO, will receive RHI subsidies for 10 apartments within a 51-unit building of family supportive housing. The proposed development, located near the revitalizing Far South Michigan Avenue business corridor, demonstrated a viable plan to connect residents to jobs through strong property management and supportive service provision in the Roseland community of Chicago.

Watch  www.metroplanning.org for information on the next round of applications for RHI.

More posts by Robin

All posts by Robin »

MPC on Twitter

Follow us on Twitter »


Stay in the loop!

MPC's Regionalist newsletter keeps you up to date with our work and our upcoming events.?

Subscribe to Regionalist


Most popular news

Browse by date »

This page can be found online at http://archive.metroplanning.org/news/3165

Metropolitan Planning Council 140 S. Dearborn St.
Suite 1400
Chicago, Ill. 60603
312 922 5616 info@metroplanning.org

Sign up for newsletter and alerts »

Shaping a better, bolder, more equitable future for everyone

For more than 85 years, the Metropolitan Planning Council (MPC) has partnered with communities, businesses, and governments to unleash the greatness of the Chicago region. We believe that every neighborhood has promise, every community should be heard, and every person can thrive. To tackle the toughest urban planning and development challenges, we create collaborations that change perceptions, conversations—and the status quo. Read more about our work »

Donate »