WOODRIDGE, Ill. — The village of Woodridge has approved final plans for the Woodridge Horizon Senior Living Community to be located at 8099 Janes Avenue. The approval marks a significant milestone, as this will be the first senior housing development in the community.
The 93-unit, $20 million development includes market rate and affordable independent living apartments for adults age 62 and older. The four-story development will include a mix of one and two-bedroom units with a fully equipped kitchens and the building will include common area amenities such as a community room, fitness center, game room, library and computer lab.
In 2008, the Village entered into a development agreement with a local apartment complex owner to buy existing apartment buildings, demolish them and offer the land for future senior housing development opportunities. The Village Board selected the Alden Foundation in 2012 as the senior housing developer through a RFQ process. Since 2012, the Village has worked closely with Alden to bring the project to fruition.
Low Income Housing Tax Credits from the Illinois Housing Development Authority will finance about half of the project cost for the Woodridge Horizon Senior Living Community. Additional sources of funding for the project include HOME program funds from DuPage County, a grant from the Federal Home Loan Bank of Chicago and an energy grant from the State of Illinois Department of Commerce and Economic Opportunity.
“We are honored to become a part of Woodridge, a community that clearly values its seniors and understands the need for providing them with high quality affordable housing,” says Beth Demes, executive director of the Alden Foundation. “We are grateful to the village staff and board for selecting us and look forward to the ribbon cutting of Woodridge Horizon in the summer of 2016.”