Four subsidized housing complexes for seniors and families in Peoria have new updates. The 40 million dollar project is the largest ever in the state outside of Chicago.
There are 478 apartments, most are for seniors with a few for families. The apartment locations are Parkview Estates, Reservoir Estates, Hurlburt House and Schlarman House.
Second District Peoria City Councilman Chuck Grayeb has two of the complexes in his district. He says it was a huge project that started about 15 months ago, “and of course we had to secure permissions with all the financing and regulatory hurdles. It’s a great project for the City of Peoria and it means a lot to our citizens."
Each apartment received full interior and exterior upgrades concentrated on livability and energy efficiency. The renovations were paid for with the help of a dollar-for-dollar federal low income housing tax credit.
Congresswoman Cheri Bustos co-sponsored the measure that reaffirmed the tax credit program. She says, "The fact that this is the biggest program of its kind in the history of the state of Illinois outside of Chicago and it’s right here in Peoria and we should be very proud.”
Wallick Communities owns and manages the properties. The company CEO says it’s important to preserve affordable housing because there is a three-to-one shortage in Peoria and across the nation.