Huntley affordable housing project moves forward
Work on a long-awaited affordable senior housing and health care project in Huntley is expected to begin this summer.
The village board Thursday approved final plans for the proposed Alden Huntley Horizon Senior Living Community targeted for nearly 15 acres within Regency Square, off Route 47 directly north of Del Webb's Sun City active adult community.
Alden Realty Services' more than $51 million project includes a 110-bed skilled nursing and rehabilitation facility with an attached 60-bed memory care building -- estimated to cost roughly $33 million. A 79-unit independent living complex for people 62 and older will cost about $18 million.
The project originally came forward in June of 2013 and was delayed because obtaining tax credits and securing financing took longer than originally anticipated, officials said.
The Illinois Housing Development Authority has approved Low-Income Housing Tax Credits to finance the independent living portion of the Alden project. It would open in the fall of 2017.
"They intend to start moving dirt here next month," Village Manager Dave Johnson said, adding there is a need in the community for such facilities.
The village's plan commission placed a few conditions for the project's approval, including charging a $500 per acre capital development fee and requiring the developer to build a five-foot sidewalk from the southwest corner of the Alden campus going west along the north side of Regency Parkway to a nearby fire station. That work must be completed by Oct. 31, 2017.
McHenry County Housing Authority's Housing Choice Voucher Program, which provides rental assistance for low-income tenants, will award eight housing vouchers to future residents of the Alden project. Per an agreement with the village, the agency is allowed to operate within the Kane County portion of Huntley.
The Alden Foundation, developer for the affordable housing component, operates independent living communities in Aurora, Barrington, Bloomingdale, Elgin and Mount Prospect.
A separate entity within the Alden network, The Alden Group, is developing the nursing home and memory care facilities, similar to facilities in Aurora, Barrington, Bloomingdale, Des Plaines, Hoffman Estates, Long Grove, McHenry and Naperville.