This $5.2 million development consists of 25 single family homes in Hoopeston, Illinois. ICADC served as the developer on the project and East Central Illinois Community Action (ECICAA) is fulfilling the role of owner. This project was made possible through the use of American Reinvestment and Recovery Act (ARRA) funds. Construction began in June 2010 and completed construction in July 2011. By the end of July 2011, the project was fully leased. The development features:
As Prairie Meadows transitions into operations, ICADC continues to work alongside of ECICAA to train agency staff on how to perform asset management functions. ICADC offers training and technical assistance to ECICAA to ensure that lender reporting requirements are met and that the development continues to operate efficiently. This project has provided over $219,000 in developer fees to ECICAA and ICADC combined. Prairie Meadows continues to exemplify how affordable housing positively impacts communities by growing the tax base, creating jobs, and providing decent, safe, and sanitary housing. Providing more new homes than this city has seen in over 10 years, Prairie Meadows is sure to be a shining star in Hoopeston for years to come!
Located in Beardstown, Illinois, Welch Woods was developed in 2005 by MCS Community Services, Windsor Homes, and ICADC. The development provides forty-two (42) units of multi-family housing to families at or below 60% of area median income. Total development costs were $5 million. ICADC serves at the 100% general partner providing ongoing asset management services. The development includes:
Welch Woods served as a model in Illinois for one of the first employer-assisted housing projects. Its success has been recognized statewide and featured in several of the state’s publications on housing. The property is managed by the Housing Authority of the County of Cass. It continues to maintain full occupancy with a waiting list. Welch Woods has realized many occupants that have went on to purchase homes in the area by improving their economic position through the provision of affordable housing.
Developed in 2003, Strawberry Meadows provides forty-two (42) units of affordable, family housing in West Frankfort, Illinois. This project was developed by Budslick Investments, ICADC, and Crosswalk Community Action. ICADC and Budslick Investments make up the general partnership. Total development costs were $3.7 million. Crosswalk serves as the non-profit project sponsor providing supportive services and referrals to the development. Budslick Management Company manages and maintains the development. Going on its tenth year of operations, Strawberry Meadows continues to reflect positively on the community.