CHICAGO – The Illinois Housing Development Authority (IHDA) today celebrated the grand opening of a new housing development featuring 73 affordable apartments for low-income seniors and a senior center. An estimated 100 jobs were created with the construction of the Casa Maravilla development in Chicago’s Pilsen neighborhood.
As the state’s housing finance agency under Governor Pat Quinn, 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.
“Together, these two developments create a multigenerational affordable housing campus serving Pilsen families so they can continue living in the community,” said Gloria L. Materre, IHDA Executive Director. “IHDA is proud to have served as a public partner to build both Casa Maravilla and Casa Morelos, so low-income families and seniors can find stability in this economy.”
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, located at 2021 S. Morgan St.
Casa Maravilla builds on IHDA’s commitment to green building. The development features pervious paving to decrease run-off, a partial green rooftop system reducing energy consumption and a geothermal heating system.
Monthly rent ranges 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.