IMMEDIATE RELEASE

Contact: Brian Berg

312.822.0505 | brian@mkcpr.com

 

Dynamic Public and Private Partnership Delivers New Affordable Housing in Lake in the Hills, IL

Chicago, IL-(June 29, 2016)—U.S. Representative Peter Roskam (R-IL 6th District) joined members of the community for a celebration honoring the opening of The Villas of Lake in the Hills, a newly-constructed, LEED Silver Certified, 60-unit affordable housing rental community developed by DKI Inc., a Chicago-based real estate investment and development firm.

“The Villas of Lake in the Hills are a perfect example of an effective public/private partnership,” said Representative Roskam at the community celebration.  “They are designed to meet an important and growing need of the region – quality affordable housing for veterans, working families, seniors, and residents without other options.  The Villas will make our community a better place by helping people who need it.”

The development is the result of a combination of public and private funding, including:  an Illinois Housing Development Authority (IHDA) HOME Loan; a loan from JP Morgan Chase; equity from the sale of Low Income Housing Tax Credits allocated by IHDA; a Department of Commerce and Economic Opportunity Grant from the State of Illinois; and an AHP Grant from the Federal Home Loan Bank.  The Villas adhere to IHDA’s Enhanced Green guidelines and feature a variety of green building design elements and energy efficient lighting and appliances.  It is the latest DKI project after its 2013 completion of The Residences of Lake in the Hills, a 92-unit tax credit residential development for seniors that is located adjacent to The Villas.   

“Today’s opening demonstrates what can be accomplished when public and private entities work together and share a common commitment to improving peoples’ lives and building stronger communities,” said Dan Kotcher, President of DKI, Inc. 

The Villas feature a clubhouse with common areas for social and recreational use, and include a business and fitness center, community room, and a club room to accommodate support services, programs and activities for the residents.  

“This is an answer to our prayers,” said Kim Henderson, a working single mother and resident of The Villas of Lake in the Hills. “Living in these beautiful surroundings, close to a good school, shopping and my job, makes it possible to build a brighter future for me and my family.”

The Villas are situated in eight separate, two-story buildings containing 72,000 square-feet. They offer a mix of one-, two-, and three-bedroom apartments ranging from 850 square feet to 1,300 square feet, including a number of apartments set aside for residents with mobility limitations and sensory impairments.

“My new home and the friends I am making here have completely changed my life,” said veteran Art Polcyn, 93 years of age and a Villas resident.  “The Villas not only make my life more manageable and comfortable, they have inspired me to continue to look for ways to make a difference every day.”    

About DKI, Inc.:

Since its inception in 1998, DKI Inc. has been a Chicago-based real estate investment and development firm specializing in the acquisition, rehabilitation and development of affordable, multi-family residential communities in the Chicago region.  DKI has acquired, renovated and built more than 2,000 units of multi-family rental housing in underserved urban and suburban neighborhoods.   

 

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