DEVELOPER INFO:
Lead Developer: 3 Diamond Development (3DD) has extensive expensive in the senior housing market and owns affordable senior housing in Illinois, Iowa and Missouri. Our executives bring seasoned experience in senior housing, property development and tax credit financing to each project. Our team has worked on the full spectrum of affordable and specialized housing. This includes assisted living communities, rehabilitation centers, skilled nursing facilities, as well as drug rehabilitation properties. We have the experience to manage every aspect of development effectively and efficiently. Working in conjunction with local communities, 3DD ensures that each facility is tailored to the specific needs of the community. 3 Diamond Development operates and manages our properties to ensure that our residents live in an environment that supports their health and well-being. Each property offers one- and two-bedroom units, living options that cater to our senior community. Unlike other affordable housing, our developments incorporate amenities that traditionally have only been available in market rate housing, including wellness centers, fully equipped exercise rooms, beauty salons, walking paths, gardens and all disability access.
Co-Developer: Peoria Opportunities Foundation (POF) is the co-developer/owner of the property. Established in 1999, POF is a community development nonprofit created to develop affordable housing, emphasizing self-sufficiency and economic wealth for low-income families and individuals. The POF Board of Directors is comprised of community members with a variety of experience including city zoning, management, banking, marketing, law, real estate, construction, neighborhood activism and advocacy for minorities.
PROJECT INFO:
Diamond Senior Apartments of Princeton offers 40 villa-style single-story homes in 8 clusters. Affordability extends to households between 30% AMI and 60% AMI, meaning residents with annual incomes between approximately $12,350 and $28,140 are eligible; 8 of the units receive preference as permanent supportive housing units through IHDA’s State Referral Network program. There is also a community building that includes a community room with kitchen, fitness room and on-site property management office.
The project is located just 2 blocks from historic downtown Princeton, which offers a senior center, as well as a pharmacy, restaurants, and banks.
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Lightengale’s Role:
Photo Credit: Picture from 3DD Website
