CSH staff, along with several local officials and financing partners, joined together on July 26 to celebrate the opening of PhilHaven, a new 50-unit supportive housing development located in Wheeling, Illinois.
The three-story building comprises 57,174-square-feet of living space. The first floor features the property’s on-site management offices and a variety of community spaces such as a lounge with an adjacent kitchen, technology center, exercise room, reading nook and a bike storage room. In all, the building consists of private apartments configured in one-, two- and three-bedroom layouts and complete with contemporary fixtures and finishes.
Financing for PhilHaven was provided by the Illinois Housing Development Authority, National Equity Fund Inc., Village Bank & Trust, Wintrust Financial, Cook County, Federal Home Loan Bank of Chicago, the Illinois Department of Commerce & Economic Opportunity and CSH.
CSH provided a $1,950,000 acquisition and predevelopment loan for PhilHaven. Proceeds from these monies were used to fund acquisition of the project site and predevelopment costs related to the new construction.
PhilHaven's residents will benefit from supportive services, including access to behavioral and mental health counseling and programs.
PhilHaven has been under development since 2011 and received hundreds of applications from families before the wait list was closed. It is now fully occupied.