Mount Prospect gives early OK to plan for affordable senior apartments

Mount Prospect likely will add to its stock of affordable senior housing.

On Tuesday, the village board gave preliminary approval for a four-story, 53-unit building at 2040 W. Algonquin Road, between Briarwood Drive South and the Mount Prospect Green Apartments.

The project is decades in the making. After a proposal to build a three-story residential development there was spurned by the village board in 1975, the property has remained undeveloped.

Rents for the 41 one-bedroom units will range from $382 for residents at 30% of the area median income to $881 for 60%. The 12 two-bedroom units will be offered for the 60% area median income range at $1,057.

"This is totally in line with the goals of this board to provide more senior housing, and housing in general for affordable situations," said Mayor Paul Hoefert.

Community Development Director Bill Cooney said the building is similar to senior projects the board has approved at 401 E. Kensington Road and 1703 E. Kensington Road. As with those projects, this one would benefit from low-income credits through the Illinois Housing Development Authority.

The residents, he said, would be age 55 and above.

Cooney said the project needs some fine tuning as the plan moves toward final engineering. The village has recommended the developer explore the possibility of a cross-access easement with adjacent developments, with the goal of allowing a connection to an existing full-access driveway on Brownstone Court and directing traffic flow to the site via an existing signal at Algonquin Road, Briarwood Drive and Brownstone Court. This would also eliminate the need for a curb cut on Algonquin Road.

Wyllys Mann, from developer MVAH Partners, said it also would enable the building to be moved forward, as opposed to having a parking field front Algonquin Road.

"It would have a better street feel, if we were able to do that," he said.