Affordable Housing Expansion: Bear Development’s Latest Initiative in Illinois

Bear Development, in partnership with Greenprint Partners, has been awarded federal Low-Income Housing Tax Credits (LIHTC) by the Illinois Housing Development Authority (IHDA) for the creation of McHenry Senior Commons. This development is part of a broader effort, supported by $23.8 million in LIHTC, to develop and preserve affordable housing across Illinois. McHenry Senior Commons will contribute to providing accessible and affordable housing for low- to moderate-income seniors, reflecting Bear Development’s ongoing commitment to community-focused urban development. This project is one of 16 statewide initiatives funded under the new 2024-2025 Qualified Allocation Plan, aiming to support vulnerable populations and promote sustainable living.

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https://gov.illinois.gov/news/press-release.30237.html
https://www.myradiolink.com/2024/07/26/governor-pritzker-and-the-illinois-housing-development-authority-announce-2024-affordable-housing-tax-credit-developments/