Governor Pat Quinn announced more than 1,470 affordable apartments will be created or preserved for working families, seniors and people with disabilities in communities across the state.
Financing for the apartments will come from two sources – the federal low-income housing tax credit (LIHTC) and the Illinois Housing Development Authority’s (IHDA) Preservation Now program. A new round of LIHTC financing will support the construction and rehabilitation of 1,021 units in 16 developments in the areas of Chicago, Metro East, Springfield and Peoria. Under the state’s Preservation Now program, more than 450 units of affordable housing will be preserved in six developments located in Southern Illinois, Peoria and the Quad Cities.
For more information and a complete list of approved developments, visit ihda.org.