By Dave Allison
Joliet seniors will soon have additional affordable housing accessibility.
The US Department of Housing and Urban Development through its office of Multifamily Housing will make 113 rental homes at its Stevenson Crossing site available to low-income seniors. The rental homes will be made available through Section 8’s Project Rental Assistance platform as an agreement between RAD and the Housing Authority of Joliet.
Funding for the conversion will include $16 million in construction renovations that will reconfigure one-room efficiency apartments into one-bedroom homes that are more accessible to seniors with mobility issues and those with sensory impairments. The work will include updates to the bathrooms and kitchens and appliances and replacement of the roof. The renovations amount to about $142,000 in improvements for each home.
The transaction between RAD and the Joliet housing authority is funded by 9% in low-income housing tax credits, a private first mortgage loan, public housing Capital Funds, and public housing authority non-federal funds.
“Approximately 11% of Joliet’s population who are aged 62 and over are in need of affordable housing,” said Housing Authority of Joliet CEO Michael Simelton. “Approving this change in occupancy preference for Stevenson Crossing not only helps those who need housing assistance in Joliet, but it moves us closer to our goal of stemming the loss of affordable housing in the area.
“From the very start, the Rental Assistance Demonstration has facilitated more than $15 billion in capital investment to improve or replace more than 185,000 rent-assisted homes for low-income families and persons with disabilities. These newly improved homes will guarantee their fundamental rights to a life lived with dignity in decent, affordable housing. He concluded.” Dave Allison TTW reporter – news@thetimesweekly.com
