Gardner Capital Development to Develop The Village of West Dundee Senior Independent Living Complex

The 85 one- and two-bedroom low-income apartments will provide affordable housing for seniors

Nov 02, 2015, 17:11 ET from Gardner Capital, Inc.

WEST DUNDEE, Ill., Nov. 2, 2015 /PRNewswire/ -- Gardner Capital Development of St. Louis, in partnership with the Elgin Housing Authority, has been awarded an annual reservation of $1.5 million in Low Income Housing Tax Credits from the Illinois Housing Development Authority's competitive application process to develop West Dundee Senior Independent Living, a $16 million rental housing project consisting of 85 one- and two-bedroom apartments for seniors, located at Main Street and Village Quarter Road.

Construction of the units will begin in March 2016, with completion expected in December 2016.

"Providing quality, affordable housing for seniors is an integral component and a driving force behind our mission at Gardner," said Michael Gardner, president of Gardner Capital. "We strive to create housing that is indistinguishable from luxury apartments that just happens to be affordable.  West Dundee is a wonderful community in need of senior housing.  We are honored to be part of this effort and couldn't be more pleased with the support from the Village of West Dundee.  We look forward to working closely with the community as we progress."

When completed, the Village of West Dundee will consist of 35 one-bedroom and 50 two-bedroom apartments available to residents earning at or below 60 percent of area median income.  All apartments will include full-size kitchens and appliances; full-size washer and dryers; generous storage closets; and seniors-oriented design features such as wide doorways and maneuvering areas, easy-to operate appliances, emergency notification systems, easy-to-turn door handles, raised electrical outlets that minimize the need to bend over, and lower, more accessible light switches.  Extra accommodations and accessibility features for those with physical disabilities can be provided as needed.

Common space will be concentrated at the main entrance where seniors can relax and spend time with friends in a furnished lobby. A TV/theater room will host weekly movie events and a furnished community room will open onto a patio with outdoor tables and gazebo. A separate exercise room will be fully furnished with a variety of equipment.  All entrance/exits will be key-carded and closed circuit video monitored. 

The site itself will consist of native landscaping and a gazebo sitting on the edge of a patio deck extending into the buildings great room where residents can hold parties and other community events. Residents will also have access to individual garden/flower plots and planters.  There will also be a walking path that leads to a community park and forest preserve that forms the southern border of the property.

About Gardner Capital

Gardner Capital owns and operates several businesses throughout the United States, focusing on development, investment and syndication of tax credits for affordable housing and renewable energy projects.  Gardner Capital serves communities in 19 states and has provided more than $2 billion in equity for housing and solar projects. The principals, Mark Gardner and Michael Gardner, continue to expand the footprint of Gardner Capital with offices in Springfield, MO., St. Louis, Dallas, Atlanta and San Francisco and staff across the United States.

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SOURCE Gardner Capital, Inc.