Affordable Housing Loans Approved For Arlington Heights

ARLINGTON HEIGHTS, IL — Two local affordable housing projects received some funding Thursday following a vote by the Cook County Board of Commissioners. The board approved $2.6 million in HOME Investment Partnership Program Loan funding for new affordable and permanent supportive housing projects located in Arlington Heights and Skokie.

These HOME Investment Partnership Program Loans are an investment made by Cook County to grow affordable and permanent supportive housing development projects for families and individuals in asset rich communities in suburban Cook County, according to a news release.

“Cook County is proud to provide HOME Investment Loan funding to the development of these important and essential affordable housing projects,” Cook County Board President Toni Preckwinkle said. “The demand for this type of housing represents a need that we must continue to address until everyone has a safe and affordable place to live.”

Funding for a housing project in Skokie was also approved. The two projects in Arlington Heights, which each received $1 million in 0 percent interest loans, are:

Arlington Heights PSH consists of new construction of a 25-unit, affordable, permanent supportive housing development for families and individuals, located at 1519-1625 Arlington Heights Road. Additional funding sources include Illinois Housing Development Authority, IHDA HOME or Trust Funds, Illinois Facility Fund, ComEd Grant, and Illinois Capital Bill. The property will be wholly owned by Full Circle Communities, Inc, which specializes in the expansion of quality affordable housing through preservation and development and provides targeted supportive services to their residents and surrounding communities, according to the news release

310 Arlington Heights LLC, Arlington Heights, features new construction located at 310 W. Rand Road, will be a family housing community for low- and moderate-income families will consist of 40 residential units including 20 one-bedroom units and 20 two-bedroom units. The building will be built to National Green Buildings Standards. The development will offer multiple resident programs concentrating on adult literacy, financial management, and employment assistance. All programs will be at no cost to the residents. The development will offer on-site amenities to facilitate social spaces and convenient access to services including an on-site property manager, community/media, fitness, and laundry rooms.