WEST DUNDEE, IL – Gardner Capital, a family-owned private equity firm specializing in apartment building and renewable energy development and investment, recently completed a brand new senior citizen housing complex in suburban Chicago in West Dundee, Illinois . The 61 residential units at Spring Hill Senior Residences offer affordable housing and a wealth of amenities and are designed for residents aged 55 and over.
The Housing Authority of Elgin, along with financial partners Fifth Third Bank and Raymond James, acted as Gardner Capital's development partner. The Illinois Housing Development Authority is the permanent lender.
"We are excited to close Spring Hill Senior Residences, our first of several projects that will focus on various suburban markets in the Chicagoland area," said Michael Gardner, President and CEO of Gardner Capital. "Affordable housing is more in demand than ever and we pride ourselves on our commitment to developing more options for seniors looking for affordable and well-designed places to live."
One and two bedroom apartments are located at 969 W. Main St. across from Spring Hill Mall and near Route 72 and public transportation. Spring Hill Senior Residences, managed by Seldin, also have a fitness center, common room, reading area, and a full-size washer and dryer in each unit. Powers and Son Construction acted as general contractor for the project.
Source: Gardner Capital