From Real Estate Business Online:
Evergreen Real Estate Group, Synergy Construction Group and the Chicago Housing Authority have completed construction of Ravenswood Senior Living, a 193-unit affordable seniors housing community in the Ravenswood neighborhood on the north side of Chicago. The property was previously the Ravenswood Hospital, which was built in 1974 and fell vacant in 2002. The redevelopment project cost $81 million and took a year-and-a-half to complete.
Located between Damen and Ravenswood avenues, Ravenswood Senior Living is a 10-story building that is situated close to public transit, including the Damen and Montrose Brown Line stations and the Ravenswood Metra stop.
The seniors housing property has 74 one-bedroom independent living apartments for Chicago Housing Authority residents, as well as 119 units for participants in the Illinois Supportive Living Program, an alternative to nursing home care that is administered by the Illinois Department of Healthcare and Family Services.
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In addition, the supportive living community has an onsite doctor’s office, which is staffed by a physician up to two days a week and offers 24-hour care provided by trained medical professionals. Applications are currently still being accepted for both the supportive living and independent living apartments. Residents of the independent living section must be 62 or older and residents of the supportive living section must be 65 or older. Also, there is an income restriction of 60 percent of Area Median Income for all apartments.
“Ravenswood Senior Living is the first facility of its kind in Illinois and will provide a pathway for low-income seniors to age in place while maintaining a high quality of life,” says Tracey Scott, CEO of the Chicago Housing Authority (CHA).
Read Real Estate Business Online’s article “Evergreen, Synergy, Chicago Housing Authority Complete $81M Affordable Seniors Housing Community.”