Life Center Elderly Apartments

 

 

We are pleased to submit the following “Site and Market Study” for the proposed Low Income Housing Tax Credit development to be known as Life Center Elderly Apartments in Chicago. The proposed development will consist of 90 one-bedroom and two-bedroom units that will be contained within a seven story mixed-use elevator building. Five of the units will be affordable to senior households (62+) earning at or below of 60 percent of AMI, 63 will be subject to a project based Section 8 agreement that will allow tenants to pay 30 percent of their income for rent, and 22 units will be leased at market/unrestricted rates.

 

In fact, this project will be unique in the market area because of the sustainable building features, elements of Universal Design, and comprehensive array of community amenities and tenant supportive services. Furthermore, it has very good access to public transportation and nearby medical, shopping, and recreational amenities

 

GENERAL DESCRIPTION

The subject of this market study is the proposed new construction of 90 senior housing units that will be contained within a seven-story mixed-use building in the Washington Park neighborhood on the south side of Chicago, Illinois. The apartments will be located on the third through seventh stories of the elevator building, while the first floor will contain office/retail space and common area space associated with the apartments. The second floor will contain additional common area space associated with the apartments and office/retail space. In addition, a two-story parking garage will adjoin the building. In total, the building will contain 94,360 gross square feet of apartment, office/retail, and common area space. Only the apartments and associated common space area the subject of this study. The companion development to the residential component will be inclusive of office/retail space and will be financed with sources derived from LIHTCs.

Seventy-two one-bedroom and 18 two-bedroom units will be offered, with each unit type containing one bathroom. Five units will be affordable to seniors 62 and older earning at or below 60 percent of the area median income (AMI) for the Chicago metropolitan statistical area (MSA) through the Low Income Housing Tax Credit (LIHTC) program administered by the Illinois Housing Finance Authority (IHDA). Another 63 units will be subject to a project-based Section 8 agreement that will allow tenants to pay 30 percent of their income for rent and the remaining 22 units will be leased at market or unrestricted rents. Maximum income for nine of the Section

8 units will be restricted to 30 percent of AMI under LIHTC guidelines, while maximum incomes for the remaining Section 8 units will be restricted to 50 percent of AMI per HUD guidelines.

 

LOCATION

The site for Life Center Elderly Apartment is located at 63 East Garfield Boulevard in the southwest quadrant of the intersection of Garfield Boulevard and South Michigan Avenue. It is about half-way between the Dan Ryan Expressway (I-90/94) and Washington Park, or about 0.4 mile from each. Two Chicago Transit Authority (CTA) light rail stops are located within four blocks of the property (Red Line to the west and Green Line to the east).

Both lines, as well as the Dan Ryan Expressway, provide access to downtown Chicago, which is located approximately five miles to the north.

 

BUILDINGS

Life Center Elderly Apartments will be contained in a single “L”-shaped seven-story mid-rise elevator building with 94,360 total gross square feet of space (29,000 square feet of senior common area/public use, and 65,360 square feet of residential/apartment space) plus a 39,000 square foot parking garage.

The office/retail space, which will be located on the first and second floors, is not being evaluated in this analysis. A total of 90 one-bedroom and two-bedroom units with 580 to 960 square feet of net living space will be constructed on the third through seventh floors. Seventy-two units will contain one-bedroom and 18 will contain two-bedrooms. The building will be constructed with structural steel framing supported by a concrete podium ground floor. Light gauge steel framing will be used for interior partitions.

The building and site will feature various sustainable features generally set forth in Enterprise Green Communities guidelines. They include native landscaping, green roof areas, roof-mounted solar (photovoltaic) panes, Energy Star appliances and lighting packages, and low-flow plumbing fixtures. Building materials with recycled content will be utilized, construction waste will be minimized, and staff and residents will receive training about how to maximize the benefit of these features.

Ten percent of the units (nine units) will be fully wheelchair accessible and two units will be wired for accessibility by persons with hearing and visual impairment. In addition, Universal Design elements will be used throughout the building. Adequate clearances will be provided to provide a 360 degree turning radius in the kitchens and to allow for all appliance doors to open fully, power assisted doors at the main entries will be installed, the appliances will have front-mounted controls, and there will be curb-less roll in showers.

Overall, the design is superior to other senior developments in the market area and is very appropriate for the target tenant base.

 

DEVELOPMENT AMENITIES

Unit amenities will include a refrigerator, oven/range, carpeting, miniblinds, central air conditioning, and wiring for cable television and internet access.

The following community amenities will be located on the first floor: main entry and lobby, management/leasing offices, security offices, meeting/conference rooms, a community room, and lounge areas. The community room will be fully furnished with a flat screen television, lounge seating, game tables, a full-service kitchen, and other features.

The following amenities will be located on the second floor: a fitness center, hair salon, doctor’s office/exam room, resource library and computer center, and additional community/lounge space.

The site will be secured with perimeter fencing and controlled access entries. It will also include native landscaping, secured parking, and a courtyard (outdoor) with recreational space and a garden area.

Supportive services will be provided by Urban Strategies and K.L.E.O. Family Life Center. They include individualized casework, recreational activity coordination, and human capital development.

Overall, the amenity package is generally superior to affordable senior properties and is very appropriate and sufficient to serve the intended senior market.

 

CONSTRUCTION

As discussed previously, the subject will be constructed utilizing various sustainable features. It will be constructed with a concrete podium foundation and structural steel framing. The parking lot, which will be attached to the building on the southern portion of the site, located south of the building, will be accessible via Michigan Avenue. A site plan is included in the appendix.

The units will be accessed via interior hallways, with access to the residential floors provided by two elevators and two stairways. The building will have a flat roof with a bituminous membrane and portions will be “green”.

The general features of the project are summarized below:

 

Foundation: Poured-in-place reinforced concrete podium

Structure: Steel

Exterior Walls: Light gauge steel

Windows: Insulated glass in aluminum frames

Roof: Flat with bituminous membrane

Floor Covering: Carpet and vinyl

Air Conditioning and Heat: Individually controlled VPAC HVAC systems

Hot Water: Common boiler system

 

The subject will have rooftop solar panels. Overall, the subject property will provide a quality housing option that

is rare in the primary market area.

 

PARKING

The two-story parking garage will contain 82 parking spaces will be located south of the building. A parking ratio of 0.33 space per senior unit plus ample parking for office/retail space is planned. Although the residential parking ratio is relatively low, many low-income seniors do not have cars and the property is within walking distance of fixed bus routes and two light rail stations. Thus, we conclude that the proposed parking is sufficient.

 

DENSITY

The site contains 1.1 acres, resulting in a density of 82 units per acre, or 532 square feet of land per unit. Considering the project’s urban location, the density is appropriate.

 

ZONING

The site currently spans two distinct zoning districts: “B 1-2, Neighborhood Shopping/Mixed-Use District” and “RM-5, Residential Multi-Unit”. The former designation allows for a variety of retail and community spaces, as well as residential uses above first-floor retail. The latter designation allows for multi-family development, as well as some community uses. Certain office, retail, and community support uses require a special use permit. Current renderings indicate that the building will be located in the B 1-2 district and the parking structure will be in the RM-5 district.

 

OTHER

The subject property is less than a block from multiple public bus stops and less than four blocks from two stations for the “L” public train system (Red Line and Green Line). Proximity to these transportation linkages is critical for low-income households.

 

If you have questions about this project or would like to know more about it, please contact our executive director Torrey L. Barrett at

 

 

torrey.barrett@kleocenter.org

Phone: 708-878-2423