Chicago, IL August 2, 2016 – Hispanic Housing Development Corporation in collaboration with Norwegian American Hospital, proudly shows its unwavering support of Chicago’s Veterans community with its newest project, the construction of the 65th Infantry Regiment “Borinqueneers” Veterans Housing in the West Town community at 1045 N. Sacramento. The development provides low-income veterans with the opportunity to live in a sustainable area with environmental green amenities and on-site access to supportive services.
The 65th Infantry Regiment “Borinqueneers” Veterans Housing development consists of one four-story brick and masonry elevator building that provides 48 units of permanent supportive housing targeted to low-income veterans and their families. The mid-rise building includes one-, two- and three-bedroom units, as well as on-site supportive services and an on-site manager’s apartment. About 38 of the 48 units are available for veterans and their families whose income range up to 60 percent of the area median income, while 10 units are provided for veterans at or below 30 percent of the area median income. One unit is set aside for the on-site manager’s apartment.
With this permanent supportive housing project, Hispanic Housing Development Corporation shows its commitment not only to veterans, but also to the greater success of the West Town community. This development goes beyond laying the foundation for affordable housing opportunities for veterans, and instead recognizes the increasing need for accessible supportive services for veterans and for economic growth and development. This development affords veterans the opportunity to participate in a wide array of supportive services that will be delivered on-site and will help the residents and community flourish. These supportive services include job training, legal assistance, support groups, educational programming, addiction counseling, computer training and mental health support. Additionally, supportive services will be provided to veterans and their families through Norwegian American Hospital, The Jesse Brown VA Hospital and La Casa Norte.
Hispanic Housing Development Corporation is honored to have worked with many valuable partners to make this development a reality. Their financial support and strategic partnership demonstrates their unwavering commitment to improving the quality of life for veterans. “We’re committed to helping veterans transition to civilian life by connecting them to resources that put them on the path to financial stability,” said Katy Gnapp, Head of Commercial Real Estate Banking, at Bank of America Merrill Lynch. “We recognize this transition can be challenging. We’re pleased to provide the tax credit investment, construction loan and subordinate loan that helped finance the 65th Infantry Regiment Veterans Housing, which will provide secure housing to dozens of veterans and their families so they can focus on their health, the well-being of their families, and reaching their own personal and professional goals.”
“The 65th Infantry Veterans Housing Development is just the latest example of CHA’s ongoing commitment to veterans.” CHA CEO Eugene Jones, Jr., said. “As a proud partner of Mayor Emanuel’s pledge to end veteran homelessness in the City of Chicago, we are pleased to support this development that will help provide the stability that our veterans deserve and need. CHA has pledged more veterans supportive housing vouchers this year, and we will continue to leverage our resources to support affordable housing in communities across Chicago.”
Without the collaboration with Norwegian American Hospital, Illinois Housing Development Authority, City of Chicago, Chicago Housing Authority, Bank of America Merrill Lynch, Federal Home Loan Bank, IFF, State of Illinois – Department of Commerce and Economic Opportunity. U.S. Veterans Administration and the Home Depot Foundation, this development would not exist today.
For more information about Hispanic Housing Development Corporation or the 65th Infantry Regiment “Borinqueneers” Veterans Housing contact Angel Rivera at 773-687-4057.
