In February, Senior Associate David Curtis attended Evergreen Real Estate Group’s groundbreaking ceremony for the Leyden Senior Apartments. The project creates a town community center and 80 units of affordable housing for seniors age 62 or older in Franklin Park, a western suburb of Chicago located adjacent to O’Hare Airport. The development’s community focus will foster a vibrant and connected living environment for residents.
Clocktower Tax Credits, LLC was proud to be the Illinois Affordable Housing Tax Credit investor for the development, one of over 5 sources of project financing. Outside of the funding, the Leyden Senior Apartments serve as an important example of a public-private partnership at work. Evergreen paired with the Illinois Housing Development Authority, Cook County, and the townships of Leyden and Franklin Park to push the development forward from the first idea to the start of construction. “This development will bring much-needed senior housing to an area where it is greatly needed,” said David Block, Director of Development for Evergreen. “Township Supervisor Rocco Biscaglio and the Township Board had a vision for improving their community, and today is the realization of that vision.”
Clocktower is ready to help all Illinois developers looking to create suburban, urban, and rural affordable housing, and we have proven to be the premier investor to navigate all complexities for state tax credits generated by affordable housing 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.
