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Senior Housing Rises in $19M Restoration

JOLIET, IL-The historic YMCA building at Ottawa and Webster streets is being restored and converted into a 90-unit Senior Suites of Joliet affordable housing project.

By Marita Thomas | Updated on October 12, 2006

(To read more on the multifamily market, click here.)

JOLIET, IL-A joint venture between Chicago-based Senior Lifestyle Corp. and United Neighborhood Organization has broken ground for Senior Suites of Joliet, an $18.7-million restoration and conversion of the now-vacant historic YMCA building at the corner of Ottawa and Webster streets. It will contain 90 residential rental units, five of which will be market rate.

Senior Suites is Senior Lifestyle’s model for affordable housing. It has developed, and owns and manages 15 such properties in Chicago, and this will be its first in the suburbs. It will contain 90 residential rental units for seniors. Of those, 16 are studio layouts ranging from 415 sf to 585 sf that will rent for between $396 and $690 a month. The other 74 units are one-bedrooms, ranging from 520 sf to 1,068 sf at rental rates of between $424 and $810 a month.

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