City of Chicago, IL
03/18/2026 | Press release | Archived content
City Council to Support New Senior Housing Development
The Chicago City Council has approved an ordinance to provide $16.2 million in 9% Tax Credit Equity, $12.6 million in HOME funds, and $2.5 million in Housing and Economic Development bonds for the construction of a new senior housing development. The ordinance also designates Park Manor Phase I, LLC, or a similar entity, as developer.
The project is a five-story, 52-unit senior housing community. The building will include 18 parking spaces and two elevators to ensure full accessibility.
Amenities include on-site management, a community room for resident programming, and a dedicated wellness center to accommodate visiting physicians coordinated by management.
The development qualifies as an Equitable Transit-Oriented Development (ETOD) location. The #3 King Drive bus provides service directly in front of the site. Total project cost is $32.9 million.
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