Affaordable senior housing in Vernon Hills a good fit?
A plan to build affordable senior housing has the enthusiastic support of Vernon Hills trustees, but it will take some creative maneuvering to situate the project on a tight site.
"This is an outstanding project," said Trustee Thom Koch after a presentation Tuesday for a senior apartment building and adjoining supportive living facility on village-owned land south of Route 60 and east of Aspen Drive.
"My only concern is, can we get this 8 pounds into the 4-pound box?"
The joint venture is being proposed by Pathway Senior Living LLC, a private company with several senior communities in the Chicago area; Lake County Residential Development Corp., a not-for-profit group; and Jacobs Homes Inc. The project is estimated to cost $40 million to $48 million.
As presented, Victory Centre of Vernon Hills would feature a six-story apartment building with 120 one- and two-bedroom units and a five-story supportive living building with 120 studio and alcove units. It would be located immediately east of a proposed new Cook Memorial Public Library facility.
Rents would range from $400 to $775 for one-bedroom apartments depending on income. Two-bedroom rents would range from $780 to $850.
In the supportive living building, residents with incomes below $24,000 a year would pay about $3,000 per month, with Medicaid subsidizing the person's income. Supportive living is a state program created as an alternative to nursing home care.
An estimated 2,674 seniors living within 5 miles of the site would be in that category. There is an acute need for such housing, developers said.
Mayor Roger Byrne, who with village staffers recently visited a Pathway development in Bartlett, said the need for such a project has been discussed for years and is important for the community.
"In our strategic plan, this was one of the capital projects we hoped one day to bring to town," he said.
Potential problems arise because the site is only 2 1/2 acres and does not come close to being within zoning regulations. It would have to be developed with special approvals and with particular attention to parking along Atrium Drive and Phillip Road.
Besides providing a low-cost alternative for seniors, village officials are enthusiastic because it would become part of a campus of activity to include a new library and possibly a Vernon Hills Park District field house.
Developers said they have to move quickly because of an unexpected opportunity to compete for federal tax credits, an integral part of the financing.
Though facing extensive review the board informally agreed to a letter of support, needed by developers to meet a mid-November deadline to apply for the credits.
Developers say 80 percent of the units in both buildings would be targeted to seniors with incomes of about $32,000 per year or less, and 20 percent would be market rate.