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Glendale Commons PSH

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Glendale Commons PSH

Experienced Developer Non-Profit Organization

Glendale Commons PSH

DEVELOPER INFO:
PCDS Supportive Housing Services seeks to end homelessness in Peoria by providing safe, affordable housing and on-site services that empower residents to increase their independence, improve their quality of life, and maintain their housing on a permanent basis. With 159 units, PCDS is the largest provider of supportive housing for homeless veterans, individuals and families in the Peoria area. Providing a place to live is only the beginning. PCDS works to ensure that each family or individual is able to maintain their home with services and support dedicated to helping each build the self-sufficiency and the skills they need to change their lives. Supportive housing, like that offered by PCDS, is the most cost effective way to end homelessness and reduce its related costs including healthcare, unemployment, institutionalization and emergency services.

 

PROJECT INFO:
In the summer of 2012 , the YWCA closed their doors in Peoria and stranded some permanent affordable housing properties which SSOC stepped up to preserve. There were two properties involved in the project. One consisted of the preservation of 5 existing family duplexes, which are supplemented by a new construction duplex . An additional property adjacent had several small mostly vacant buildings on it that SSOC demolished and replaced with a new construction three-story multifamily building, totaling fourteen (14) one-bedroom units. The units house homeless individuals and state referrals.

project details

  • Project Site: Glendale Commons
  • Lead Developer: Phoenix Community Development Services (previously: South Side Office of Concern)
  • Project Address: 802 NE Glendale Avenue, Peoria, IL 61603
  • Number of Units: 28
  • Property Type: Family Housing, Supportive Housing, and Single Family Home Scattered Site
  • Closed: August 2015

 

Project Funding Sources

  • State Donation Tax Credits
  • IHDA Permanent Supportive Housing Funds
  • Energy Grant
  • Contributions/Grants
  • Pre-Development Loan

 

Lightengale’s Role

  • Strategy
    • Site Feasibility Analysis
    • Project Budget
  • Financing Execution
    • Pre-Development Loan Coordination
    • Project Debt & Equity Coordination
    • Energy Grant Application
    • Other Credits/Loan Funds
  • Due Diligence Coordination
    • Property Mgmt Documents
    • Insurance Coordination
    • Closing Owner Sworn Statement

 

Photo Credit

 

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CREATIVE APPROACH.
PROVEN RESULTS.


three
Words from our Partners:

Lightengale (LGG) began serving affordable housing developers in 1999. Over the next 23 years, LGG assisted over 150 affordable housing deals (and one radio station) to come to fruition. We are so pleased that we were able to work with so many wonderful developers, both new and experienced, small and large, to help them provide affordable housing and improve their communities.

Over these years, we learned a lot and navigated the company and our clients’ deals through the Great Recession of 2007-2008 and the Covid Pandemic of 2020-2022. Throughout this time, we have had the privilege of working with some of the finest affordable housing specialists – on our staff, our clients, and in the broader community.
Everyone should have a home they can afford and feel safe in. Ideally, amenities are nearby, and the home is energy efficient. We enjoyed working with so many people who shared our vision of universal affordable housing. While we continue to believe strongly in universal affordable housing, we also believe it is now time to have others lead the way and guide deals through the process. We hope the next generation continues to provide more truly affordable housing for more people.

While we are not taking on any new clients or projects and will be closing our doors once we finish our current deals, we want to let you know how much we have enjoyed working with each and every one of you throughout these years.

All the best to each of you-- Maggy, Larry and Virginia
Copyright Lightengale Group