New Affordable Housing Developments to Serve Kane County Families and Seniors

Grand opening celebrates 148 new affordable units available at River Haven Place and Gardiner Place in East Dundee

EAST DUNDEE – June 10, 2013 – (RealEstateRama) — The Illinois Housing Development Authority (IHDA), on behalf of Governor Pat Quinn, celebrated the grand opening of River Haven Place and Gardiner Place apartments – which will create an affordable housing campus serving families and seniors in Kane County. River Haven Place and Gardiner Place apartments stimulated the economy of East Dundee by creating nearly 300 construction and ongoing jobs, and will enable generations of families to live near each other in their home communities.

“Helping seniors afford to stay in their communities and providing safe and decent affordable rental housing for low- to moderate-income families is a high priority for Governor Pat Quinn,” said IHDA Executive Director Mary R. Kenney. “Affordable housing developments, such as River Haven Place and Gardiner Place apartments, strengthen communities and create quality local jobs to stimulate the economy.”

IHDA provided financing to build River Haven Place and Gardiner Place by allocating tax credits which generated $34.2 million in private equity. Under Governor Quinn, IHDA is dedicated to increasing affordable housing opportunities in Kane County and across Illinois. To date, IHDA has funded 19 affordable housing developments with a total of 1,547 units for seniors in Kane County. Additionally, IHDA has supported the creation of 49 affordable family developments and more than 4,000 units in Kane County to date.

Both properties, which were developed by Jim Bergman, are located on a campus-like setting at the northwest corner of Routes 25 and 72 in East Dundee. An estimated 300 residents will live in the two developments.

“I’m proud of how beautiful this development turned out. It is a particular pleasure to be able to locate a family development next to a senior community, as it allows parents and grandparents to live next to their children and grandchildren,” said developer Jim Bergman.

River Haven Place includes 68 rental townhomes for families – with priority and special discounts offered to veterans and families of veterans. Seventeen units are for families under 30 percent of the area median income (AMI) of Kane County, or a three-person household earning at or below $19,890. Fifty-one units are for families under 60 percent AMI, or a three-person household earning at or below $39,780. The development includes a clubhouse, playground, landscaped grounds, game room, fitness center, arts and crafts room and computer center.

Gardiner Place is an 80-unit affordable senior apartment complex featuring one- and two-bedroom units. Fifty-three units are available for individuals at or below 60 percent AMI, or $30,960 for a one-person household in Kane County. Residents will have access to community space, a fitness center, library, arts and crafts room, game room and hair salon.

Please contact (847) 844-4900 for more information about living in Gardiner Place, or (847) 844-4100 for River Haven Place