CHICAGO—Providence Life Services and Ryan Companies US, Inc. are on the verge of finishing Arbor Place of Lisle, a $20.6-million project that will bring 80 units of affordable housing for seniors to the western suburb. The structure is fully enclosed, builders have begun installing the finishes inside and out, and leasing has officially kicked off.
This is the second project for the Providence-Ryan partnership, and Ryan's sixth affordable senior housing project in suburban Chicago. The partners first joined up to develop Thomas Place Orland Park, a similar community in Orland Park, IL, and completed it in 2013.
“Regardless of where we are in the economic cycle there is a huge demand for affordable housing, whether it's senior housing or multifamily,” Dan Walsh, vice president of development for the Minneapolis-based Ryan, told GlobeSt.com.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
