CHICAGO — The AFL-CIO Housing Investment Trust (HIT) has re-opened Kenmore Plaza Apartments, a 28-story affordable seniors housing community in Chicago.
The 324-unit building recently underwent a $61 million rehabilitation project. Renovations included installing durable, easy-to-maintain materials and energy-efficient equipment, as well as upgrading the units, hallways, ground floor and exteriors. A small addition was also made to the existing structure.
The HIT provided $22.9 million of financing through the purchase of Ginnie Mae construction loan certificates and a permanent loan certificate.