Henry Bros. Breaks Ground on Affordable Housing Project in Palatine Illinois
Spruce Village- A Permanent Supportive Housing Project for Disabled Adults
We're excited to be collaborating with HODC, Cordogan Clark & Associates and others on this 32,900 S.F. complex that will provide permanent supportive affordable housing for adults with physical and mental disabilities.
The three-story, wood frame structure will feature 33 one-bedroom and 11 two-bedroom units on a one-acre site. The building will have a camera surveillance system, intercom access for guests, a community room, laundry facilities, and an on-site professional staff that will include a residential manager and property manager who will be available 24/7. Social service case managers will be available for residents as well.
HBCo provided comprehensive preconstruction services and support over a two-year period for the $8.2 million development while the Techny, Illinois-based owner/developer, the Housing Opportunity Development Corporation, secured funding and municipal approvals.
Funding was provided by IHDA, FHLB of Chicago, the Housing Authority of Cook County, National Equity Fund, and Village Bank & Trust. The architect for Spruce Village is Cordogan Clark & Associates. Construction completion is current anticipated in December 2020.
Real Estate Finance and Commercial Mortgage Banker
5 年Congratulations, Tom!
Retirement coaching to ensure that people are psychologically ready for their next chapter.
5 年Congratulations, Tom. ?Nice to see such a worthwhile project get underway!