Senior development in West Dundee to be completed in 12-18 months
Plans are moving forward for an 85-unit senior housing development in West Dundee.
On Monday, the village board gave developers the OK to draw up preliminary plans for the estimated $22 million project, which will be at 969 W. Main St., across from Spring Hill Mall.
The developer, St. Louis-based Gardner Capital, which partnered with the Elgin Housing Authority, originally presented the idea to trustees in March. The project just recently received state funding, said Thomas Brantley, a regional development manager for Gardner Capital.
Brantley said he expects the project to be completed within 12 to 18 months, pending village approval.
"We are going to be working together on this," Brantley told trustees. "You're going to be very, very proud."
Village Manager Joe Cavallaro said the development fits with the village's comprehensive plan that calls for bringing more multifamily and senior housing developments to commercial areas. The additional residences will help to retain and attract a strong retail base around the mall area, he said.
According to village documents, the cost of rent for the proposed apartments -- restricted to people over the age of 55 -- will not exceed 35 percent of a resident's annual income.
Monthly rent will range from $345 to $733 for a one-bedroom apartment and between $415 and $880 for two-bedroom apartments.
Additionally, 10 percent of the apartments will be set aside for seniors whose income level is at or below 30 percent of the area median income.
The project narrative also states that the development will adequately serve elderly residents, as each apartment is designed to meet or exceed standards laid out in the Americans with Disabilities Act.
Trustee Michelle Kembitzky questioned how the development will be maintained after its completion, but Brantley assured the board that developers have no intention of selling the property. "We and our management are going to be here for an indefinite period of time," he said.