CHICAGO – Governor JB Pritzker and the Illinois Housing Development Authority Board announced conditional awards using $75 million in federal funds to provide vital gap financing and complete underwriting for affordable housing developments that may have otherwise not been built due to financial challenges brought on by the COVID-19 pandemic. Funded through the COVID-19 Affordable Housing Grant Program, IHDA is providing grants to 19 affordable developments across Illinois, including one in Peru.
“Doubling down on supply is a key component of bringing affordable housing to everyone, and I’m proud of this $75 million investment that will build more than 1,000 new units for residents across Illinois,” said Governor JB Pritzker.
Funds from the grant program will be used in part to support the construction of the 3 Diamond Development in Peru. The construction project will bring 60 units for LaSalle County seniors across ten new single-story townhouse buildings. Each unit will feature modern appliances and the development will have a community and fitness room for residents.
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