Whistler Crossing, an RHI development in Riverdale, Ill.
Last week, the Ill. Housing Development Authority announced its final Low-Income Housing Tax Credits awards for the year. Of the 17 financing awards provided to developments in 2014, the Metropolitan Planning Council (MPC) is proud that three of those were to developments that applied for subsidies through the Regional Housing Initiative, a one-of-a-kind partnership between nine regional housing authorities in northeastern Illinois, the Illinois Housing Development Authority and MPC. Participating housing authorities pool a portion of their available rental assistance to provide long-term support for the rehabilitation or construction of multifamily, affordable rental homes in great communities across the region. With this recent award notice, the Regional Housing Initiative has supported over 400 apartments in 28 developments!
Given the grave need for affordable, quality rental housing in the Chicago region, we are thrilled at the leadership displayed by the housing authorities of Chicago, Cook County, DuPage County, Lake County, McHenry County, Oak Park, Park Forest and Waukegan. The Ill. Housing Development Authority and U.S. Dept. of Housing and Urban Development have been great partners in the quest to expand housing opportunities across the region and we look forward to the next 400 apartments!