Ryan Companies US, Inc. announced an expansion of its partnership with Providence Life Services with the development and construction of Arbor Place of Lisle, an 80-unit, affordable, age-restricted senior apartment community in Lisle, Ill., a western suburb of Chicago. The $20.6-million development was designed and is being constructed according to Enterprise Green Communities specifications.
Arbor Place of Lisle is the second project for the Ryan-Providence partnership, and the sixth affordable senior housing project in suburban Chicago for Ryan. In 2013, Ryan and Providence completed their first project together, Thomas Place Orland Park, a similarly designed and positioned affordable senior living community in Orland Park, Ill.
“We are excited about once again teaming with Providence Life Services in the development and construction of a project that creates attractive, affordable properties that allow seniors with limited incomes to live in their own communities,” said Dan Walsh, Vice President of Development, Ryan Companies US, Inc. “Providence has an impeccable reputation for serving the community, and we know first-hand the benefits of partnering with this organization.”
The design and construction of this age-restricted community complements the site’s elevation with a combination of three and four stories. The development will comprise 60 one-bedroom, one-bathroom and 20 two-bedroom, one-bathroom units. The one-bedroom apartments will measure approximately 756 square feet and the two-bedroom residences will measure approximately 1,008 square feet.
All apartments at Arbor Place will be affordable, and each will include a full-sized kitchen with modern cabinetry and appliances, window treatments and walk-in closets. Many of the units also will include balconies. The units will be equipped with a features-and-amenities package that is above standard, specifically when compared to other availabilities in the general area.
Arbor Place will be located on an approximately 3.3-acre site at the northeast corner of Karns Road and Ogden Avenue, just east of Naper Boulevard, in Lisle, Ill. The in-fill site is situated among office, residential and heavily wooded areas. In maintaining some wooded and wetland areas, Arbor Place will be a natural transition in the area.
“Developing an affordable senior community in Lisle represented a tremendous opportunity to further extend our community outreach mission and to satisfy unmet demand in delivering alternative housing options for seniors in an established area,” said Richard Schutt, Chief Executive Officer, Providence Life Services. “Lisle is a vibrant community, and the offering of Arbor Place will mean that seniors will not have to move from a community that has been the center of their lives.”
The site offers great visibility from Ogden Avenue and provides convenient access to shopping, medical services, dining, recreation, public transportation and other important senior services. Construction, which already has begun, is expected to be completed in the summer of 2015.
Arbor Place will have abundant common area spaces providing residential amenities. Like Thomas Place Orland Park, and other Thomas Place senior living communities, the layout and amenity package at Arbor Place was designed to encourage socializing and help create a sense of community. The common areas will include a party room and common kitchen, a multi-purpose room, a TV/library room, on-site laundry facilities, a private courtyard and gazebo and a fitness center. A total of 94 exterior surface parking spaces will be available.
Age-restriction guidelines require that all residents in each unit at Arbor Place of Lisle must be 55 or older. Income restrictions apply on all 80 units. The average monthly rents for the one-bedroom units are approximately $625, and approximately $795 for the two-bedroom units. Pre-leasing will begin three months prior to occupancy. According to Ryan, in addition to creating affordable living options for seniors, the project is expected to create more than 300 construction jobs.
The exterior of the property will be professionally landscaped with a private courtyard and a covered drop-off area for residents and guests. Pioneer Property Management will provide on-site property management services, including leasing, snow removal, building repairs and other property maintenance matters. The property features building security technology for controlled access and monitoring of resident and common area spaces.
Arbor Place of Lisle is being financed under the Section 42 affordable housing program administered by the Illinois Housing Development Authority (IHDA). Individual members of the Ryan project team include Dan Walsh, Vice President of Development; Dave Erickson, Director of Development; Amy Weishaar, Development Coordinator; Jim Herbst, Division Manager; Barry Sullivan, Senior Project Manager; Bob Pickens, Senior Project Manager; Candice Falk, Senior Project Engineer; and Pat Flynn, Senior Superintendent. Taylor Made Design is providing architectural design services.