HODC is proud to be awarded Low Income Housing Tax Credits (LIHTC) by Governor JB Pritzker and the Illinois Housing Development Authority (IHDA) Board to fund two new housing projects that will serve an additional 98 families in Illinois. Funds raised from the tax credits will finance the creation of a 48 unit affordable housing development for families and individuals living with a disability in Northbrook and a 50 unit affordable housing development for low- and moderate-income households in McHenry.
“We’re just so excited to be able to move these projects forward,” said Richard Koenig, HODC’s Executive Director. “We know that the homes we create thanks to these funds will make a world of difference for the people who will live in these developments.”
Poupard Place, Northbrook
Poupard Place, the first ever affordable housing development in Northbrook, will be targeted for low-income tenants with a preference for families and individuals living with a disability. The four-story building will be constructed on the former Grainger site and will offer amenities such as a laundry room, community room and property management office.
Taylor Place Apartments, McHenry
HODC and project partner, Northpointe Development Corporation, will construct three new buildings and adapt an existing structure to create a complex with 22 one-bedroom, 11 two-bedroom and 17 three bedroom units. The development will be targeted to individuals and families with a range of income levels from 30 to 80 percent Area Median Income (AMI).