SWIDA, Bywater Development Open $11M Affordable Community Near St. Louis

SWANSEA, Ill. — Southwestern Illinois Development Authority (SWIDA) and Bywater Development Group, along with Bi-State Development and other key stakeholders, have opened the doors on an affordable seniors housing community in Swansea.

The $11 million, three-story development is transit-oriented project, connecting to St. Louis, Missouri, via the adjacent Swansea MetroLink Station.

More than 40 of the 62 affordable one- and two-bedroom units have already been leased, with full occupancy expected by the end of March.

SWIDA and Bywater, which jointly developed the project, secured the majority of the financing from the Illinois Housing Development Authority (IHDA), with further construction financing provided by PNC Bank. Additional support came from the Illinois Department of Commerce and Economic Opportunity (DCEO) and Ameren, along with the St. Clair County Intergovernmental Grants Department. 

The Federal Transit Administration also played a role in the project, providing the necessary approval for Bi-State Development to sell the ground at the transit center to the developers for this project.

 “While the facility has only recently been completed, it has already done exactly what we hoped it would do — serving as a catalyst for further development around this MetroLink station,” Swansea Mayor Mike Leopold said at a ribbon-cutting event. “We are currently in talks with other developers who are exploring opportunities in this area because they see the success of this project.”

The project was recently awarded the 2019 Wyvetter H. Younge Award recognizing champions in affordable housing.

St. Louis-based Altman Charter served as general contractor for the project. Chicago-based Worn Jerabek Wiltse Architects is the project architect, and the property is professionally managed by ND&S Management Co.

Rents start at $565 per month for a one-bedroom apartment and $705 for a two-bedroom apartment. 

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