After that $14.5-million project, Senior Lifestyle Corp. is looking ahead to another building in the nearby Auburn-Gresham community, chairman and chief executive William B. Kaplan tells GlobeSt.com.
The next step in redeveloping a former one-story building owned by Grant Hospital is to apply for the next round of tax credits in the middle of the year, he adds. "If we're lucky, we'll break ground by the end of the year," Kaplan tells GlobeSt.com.
Senior Lifestyle's track record will be a plus. "Senior Lifestyles has brought project after project to us, scattered all over the city," says plan commission member Doris B. Holleb.
Most recently, Mayor Richard M. Daley headed a group of community leaders who helped open Senior Suites at Jefferson Park, 5400 N. Northwest Hwy. Low-income housing tax credits paid for just over half the $10.2-million cost.
While the Northwest Side project has a 6,000-sf community room, Kaplan says the building at 8300 S. Cottage Grove will have a satellite senior center, an idea he credits to Daley. The 6,500-sf senior center will include aerobics, physical fitness and massage therapy rooms as well as a computer lab.
As with most new developments lately, the project also includes a landscaped "green roof" favored by Daley.
Senior Lifestyle Corp. acquired the 1.14-acre site this year for $1.01 million.
The unit mix will include 25 efficiency and 65 one-bedroom units. Rents at the recently opened Senior Suites at Jefferson Park range from $307 per month to $665 per month.
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