Project Funding Sources
Unique Project Elements
This was Iceberg Development’s 10th deal completed with LGG as the financial consultant.
Wind Mill Manor is a new construction three story elevator building with 80 units for seniors 55 and older located on 4 acres of land in Batavia, Illinois. The project is within a half-mile of a large number of retail options as well as public transportation and was designated an Opportunity Area by IHDA. As the market study highlighted, there is a great shortage of affordable housing for seniors in the area and the project is anticipated to lease quickly. The project will be able to serve 25 households with very low incomes as the Housing Authority of Elgin is supporting the development with 25 Project Based Vouchers. The building includes a range of resident amenities - fitness room, business center, library, media room and live-in property manager and on-site office.