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FOR IMMEDIATE RELEASE:

Press contact:

Marilyn Katz, (312) 822-0505; mkatz@mkcpr.com

DKI and Officials Celebrate Opening of 92 Affordable Senior Apartments

First age-restricted development constructed in Lake in the Hills

 

Lake in the Hills, IL (August 5, 2013) –Today, Congressman Peter Roskam, Illinois Housing Development Authority (IHDA) Executive Director, Mary Kenney, residents, local organizations and civic leaders joined DKI to celebrate the official grand opening of The Residences of Lake in the Hills, a new affordable rental community for independent seniors.

“This event was our opportunity to recognize and thank the many people who played crucial roles throughout this property’s development. There were many people throughout this process who recognized the positive impact that quality affordable housing has on communities and who worked hard to help us produce a wonderful building,” said Dan Kotcher, President, DKI. “The combination of beautiful design, extensive amenities and professional management will make The Residences of Lake in the Hills a welcome and respected part of the community.” 

The Residences of Lake in the Hills is a $20.5 million mixed-income newly constructed rental housing development designed to be affordable for seniors of various income levels. As the first age-restricted development in Lake in the Hills, this environmentally friendly development offers those 55 and older an attractive and highly affordable housing option in a desirable and sought-after community. 

DKI designed The Residences of Lake in the Hills with a commitment to quality and the needs of mature adults in mind. From this creative thinking came a dynamic two-story, 92-unit development with well-appointed studio, one-and two-bedroom apartments. Each apartment comes with a fully equipped kitchen, central heat and air conditioning, and energy efficient windows. In addition, all units are wired for cable and internet. The building also has convenient laundry facilities on each floor.

Residents also enjoy the sense of community that grows from the building’s abundant common spaces— including a fitness center, community room with kitchen, library, media room, business center, patio, gazebo, walking paths and garden.

“DKI’s commitment to quality is a model for businesses and organizations in the area,” said Congressman Roskam. “As our local economy continues to improve, The Residences of Lake in the Hills will serve as an example for future development in the surrounding community.”

The development was made possible via public-private partnerships between DKI, The Illinois Housing Development Authority (IHDA), JP Morgan Chase, McHenry County, and the Illinois Department of Commerce & Economic Opportunity. The project was financed in large part with federal low-income housing tax credits, administered by IHDA.

“Federal housing tax credits are our best tool for leveraging private capital to make developments like The Residences of Lake in the Hills possible. Developments like this are not only transformative for the residents who live in them, but for our communities,” IHDA Executive Director Mary R. Kenney said. “Under Governor Quinn’s leadership, IHDA is proud to provide financing for safe, decent and affordable rental housing that spurs job creation in communities across our state.”

During the event residents also shared their personal stories of long searches for quality affordable housing in McHenry County, searches that ended happily at The Residences of Lake in the Hills.

 

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