Maple Ridge Apartments
City: Paris, Illinois
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Project Description: In Paris, Illinois Mayor Craig Smith credited the Maple Ridge Apartments, a 100% affordable housing development with helping him to convince two major employers from moving over the state line into Indiana.
Paris recognized that workers in their community faced the dilemma of driving from Indiana to work at the factories because there a shortage of decent affordable housing for people within the community.
To address this issue, the Laborers’ Home Development Corp., a not-for-profit arm of the Laborers’ International Union of North America, developed the Maple Ridge Apartments, which includes sixteen buildings containing fifty rental units, and provides working families the opportunity to live near work.
Maple Ridge Apartments also includes a community building with a meeting hall and kitchen facilities as well as a laundry room, a landscaped outdoor playground, an outdoor patio area, private main street and landscaping around dwelling units.
Project Partners: Laborers’ Home Development Corporation, Development Services Corporation, Core Construction, Worn Jerabek Architects
Sources of Funds: American Recovery and Reinvestment Act: The Tax Credit Assistance Program (“TCAP”) and Section 1602 Program (“Section 1602”), Illinois Affordable Housing Trust Fund, HOME Program, Federal Home Loan Bank of Chicago, Low- Income Housing Tax Credit Equity, Illinois National Bank and the City of Paris
Economic Impact: In the first year: 89 Jobs Created, $3.95 million in local income, $413,500 in taxes and revenue for local government. Over fifteen years: 225 Jobs created, $18 million in local income, $3.3 million in taxes and revenue for local government.