The city is providing $2.75 million of tax increment financing for the $17-million rental building. The condominiums, which range in price from $155,000 to $215,000, were built with $2.4 million of TIF assistance. The assistance requires Senior Lifestyle Corp. to make 20% of the units affordable to low- and moderate-income seniors.
Senior Lifestyle Corp. already operates 15 of its Senior Suites projects across the city. Senior Lifestyle Corp. and RDM Development and Investment, LLC also have another project in the works at 74th Street and Rockwell Street, where they plan to build 252 units.
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