Lakefront Residences of Grayslake, an affordable senior housing development, recently opened a new 3-story, 70-unit residential building across from Grays Lake at Belvidere and Neville roads.
Developed by noon-profit Mercy Housing Lakefront, the building features 63 one-bedroom units and seven one-bedroom units with a den. Of the 70 units, 25 will be for seniors over the age of 55 with special needs or disabilities.
A ribbon-cutting attended by Grayslake Mayor Rhett Taylor and other guests was held Nov. 17.
“Mercy Housing Lakefront is delighted to be a part of the Grayslake community,” said Cindy Holler, president of Mercy Housing Lakefront. “We welcome our new residents, and are excited about the services, amenities and new friendships they all will enjoy.”
June McCoy, a retired teacher and future building resident, said she couldn't wait to move in.
“I am in my eighties, independent, active, and want to stay in Lake County but my rent doubled while my social security has remained flat, and the interest income from my savings has dropped dramatically. Here, I have found a beautiful apartment I can afford that also offers lots of added amenities like a library with computers and laundry rooms on every floor.”
Lakefront Residences features many amenities, including an elevator, large outdoor patio facing Grays Lake, a great room with a fireplace and kitchen, a fitness center, and a library with computers. It's also close to parks, shopping, churches, restaurants, PACE bus and a Metra train stop.
The building is also in the process of achieving its National Green Building Certification and showcases several innovative design features such as a hybrid geothermal heating and cooling system. Other sustainable features include solar heated hot water, high efficiency furnaces, and natural and native landscaping.
Furthering the State of Illinois’ commitment to green building, the Illinois Department of Commerce and Economic Opportunity (DCEO) provided an additional $233,000 grant to finance the new housing.
The building’s funding comes partially from a public-private partnership through the Illinois Housing Development Authority. The IHDA allocated federal housing tax credits that generated more than $17 million in private equity to build the rental home development.
Mercy Housing Lakefront expects the new building will help fill the gap in affordable and special needs-serving senior housing in Lake County.
To qualify for the affordable apartments, applicants must earn at or below 60 percent of the average median income in Lake County, or $36,420 for a two-person household. For leasing information, call (847) 752-0760.
Submitted by Mercy Housing Lakefront