Financial measures approved by City Council today will support construction of a 73-unit affordable apartment complex for former members of the U.S. military and their families.
The $23 million Hope Manor II Apartments, planned for a 2.3-acre site on the southwest corner of 60th and Halsted streets in Englewood, will include a mix of studios, one-, two-, three-, and four-bedroom apartments for veterans earning up to 60 percent of area median income.
“Thanks to multiple levels of governmental cooperation and a strong effort by the community, this project will provide affordable and attractive homes and resources for local veterans to re-establish their lives in the neighborhood among family and friends,” Mayor Emanuel said.
The campus-style complex, to be developed by Volunteers of America of Illinois, will include six six-flats, five townhomes, and a three-story main building containing a community room and social services. Services will include job training, substance abuse treatment, legal assistance and mental health counseling.
City financial support will include the sale of 25 parcels of City-owned land for $1 each, a $1.9 million loan, and $1.6 million in Low Income Housing Tax Credits that will generate $16.7 million in equity for the project.
Hope Manor II is being built as a follow-up to Hope Manor I, which opened last year and provides housing and social services for 50 formerly homeless veterans in Humboldt Park.
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