Announcing the
grand opening of The Kilpatrick Renaissance (TKR), a 55+ affordable luxury
senior community in Portage Park.
Created by women-owned RRG Development, Inc., designed by Worn Jerabek Wiltse
Architects and constructed by Sterling
Renaissance, Inc., this building represents best practices in planning and
construction, and features a healthy and sustainable living environment.
These features include: a VRF (variable
refrigerant flow) HVAC system, allowing heat/cool to be called for no matter the exterior temperature or
season, a concrete assembly that is air-tight and fully insulated, Energy Star engineering in all mechanicals and
specifications, secured access and video monitoring, elevators, roof-top
terrace and 4-season
lounge, private courtyard with fire pit and community garden.
Excitement is buzzing among seniors in the Triangle area
—Portage Park, Jefferson Park and Old Irving — about the majestic stone and masonry structure at the corner of
Kilpatrick and Berteau. Since March, a parade of eager seniors has been rolling up with moving trucks,
getting settled into their new apartment homes. TKR will be hosting the Grand Opening Celebration on June 24th,
with generous contributions from Jewel-Osco
located directly south of the property,
and featuring the talents of the popular Chicago senior choir group, The Mello-Tones.
The $21.4 million project by RRG
boasts a mix of studio, one, and two-bedroom
units with nine bright and spacious floor-plans to suit every lifestyle. “We
are very excited about this project,” says Paul Russo, Project Development Manager at RRG, “because it
addresses a need for the neighborhood. The Kilpatrick Renaissance allows local
seniors to stay in the neighborhood that they
helped to build.” With the nearby Six-Corners
business district offering a plethora of
shopping and dining options, and Portage Park with a lively Senior Center and
Dog Park just a half mile away, the location
is ideal. Seniors can enjoy the benefits of city living nestled in a serene
setting in this popular northwest-side neighborhood.
TKR is a mixed-income property, offering seniors
the experience of luxury living at rents that won’t break the bank. Ninety percent of the units are
reserved for residents earning at or below 60% of area median income, while the remaining are at market rents. A
$900,000 allocation from the Chicago Low Income Housing Trust Fund will further reduce rents on ten of these units,
making them available to those with less than 30% of area median. Renaissance Social Services, Inc. is
onsite to provide social and supportive services to all residents.
Major
support from the City of Chicago helped make this project move forward. “I
worked to make this project happen because I am committed
to creating opportunities for our seniors
to stay right here in this community, instead of having to move away when they no longer
are able or want to maintain a single-family
home,” states 45th Ward Alderman John Arena. Chicago Department of Housing and Economic
Development (DHED) provided financing for the four-story, 98- unit
project, with $1.5 million in Low Income Housing Tax Credits, generating $15
million in equity for its construction,
and a $3.3 million loan. “The City’s DHED has said that this project was chosen
for tax credits because of a lack of senior
housing in the area, the proximity of the site to public transportation and
shopping, and the experience of the development
team,” reports Brian Nadig of Chicago’s Northwest Side Press.
RRG is part of The
Renaissance Companies (TRC), which was established in 1985, and has a long-standing
reputation for quality, integrity
and an enhanced living experience for residents. TRC is a family-owned/women-run company headquartered in Chicago, with a
core executive team representing two generations and multiple decades of experience. The project team also
includes BMO Harris, National Equity Fund and the Federal Home Loan Bank.
TKR has an impressive arched
stone entry and attractive façade designed to blend in with area architecture. Very affordable rents include all heat and
electric, plus individually-controlled heat/cool, which help to make it a very desirable place to live. This pet-friendly
property provides amenities such as luxurious club room with cable TV and surround sound, fitness center,
solarium, private courtyard with fire pit and gas gril, sumptuous gardens and walking paths, laundry on each floor,
library, PC center. Seniors residing at TRC properties enjoy a wide array of
life enriching activities: social
events, wellness programming, informative workshops on pertinent topics,
potluck dinners, and much more.
One bedroom apartments are
available with rents at $815 including utilities.
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