PROJECT DESCRIPTION

The Concord at Sheridan is a new $40.2-million total development cost and $31.4-million construction, mid-rise, mixed-use, mixed-income building (including RAD units). It includes approximately 151,000 square feet with a 125 below-grade parking structural steel system comprising the following three components:

• Residential component: 111 apartments, one- and two-bedrooms (65 are affordable units and
  46 are market rate), workout room, management office, lobby, games and entertainment center, and rooftop terrace
• Commercial component: Approximately 29,000 square feet of ground-floor retail space
  (including a 20,000- square foot Target store) including loading area, storage space, a green roof and below-ground parking
• Community center: One-story community center with a roof terrace

FINANCING

$40.2-million TDC: $5.8-million tax exempt bonds, $9.2 million of 4% LIHTC, $1.4 million tax increment financing (TIF), State Donation Credits, $21.3 million Housing Authority Capital Funds, seller financing, Section 8 PBV (60%) from Illinois Housing Development Authority (IHDA), IHDA Risk Share and HOME funds.

SERVICES Provided complete owner representation, real estate development advisory and financing services. Owner of project in general partnership and development entity.