Last month, Senior Associate David Curtis attended Evergreen Real Estate Group’s ribbon cutting celebrating the completion of the Bellwood Senior Apartments. The project creates 76 one-bedroom and 4 two-bedroom units of affordable housing for seniors age 62 or older in Bellwood, a western suburb of Chicago. The development also boasts amenities including an exercise room, community room, and outdoor balconies, fostering a vibrant and connected living environment for residents. Evergreen also ensured sustainability and energy efficiency for the project, incorporating features such as LED lighting and high-performance windows.
Bellwood Senior Apartments serves as an important catalyst for the Bellwood community, as it replaces a former Walgreens convenience store that had sat vacant for over five years and now creates a home for local seniors who would be subject to displacement from their hometown. “Our seniors are the backbone of our community and I have made them a major priority of my administration,” said Bellwood Mayor Andre F. Harvey. “Providing them with a beautiful home in which to live their golden years is vital. It is truly amazing how far we have come in slightly over three years with the opening of the magnificent Bellwood Senior Apartments. The dream team we assembled to make this possible all deserve a major thank you for turning this idea into reality in the midst of a world-wide pandemic.” Clocktower provided the Illinois Affordable Housing Tax Credit equity for the project, and we continue to be very proud to support Evergreen’s impactful vision to provide high quality affordable housing across Illinois.
Clocktower is ready to help all Illinois developers looking to create housing for senior tenants, and has the breadth of experience to navigate all complexities for state tax credits generated by socially-impactful projects for seniors across the state. If there are any questions or similar projects seeking a tax credit equity source or a path for tax credit eligibility, please reach out to David Curtis at (978) 440-0742, or email him at DCurtis@ClocktowerTC.com. 