Rains held off long enough on June 23 to brighten Celadon Partners, LLC groundbreaking celebration of Maywood Supportive Living. Celebrated in tandem with COVID-19 precautions, the festive outdoor event recognized the major historic redevelopment of a five-story, 133,000-square-foot supportive living facility for seniors located at 316 Randolph Street in Maywood, Illinois.
In attendance were state and local dignitaries including Emanuel “Chris” Welch, Speaker of the Illinois House of Representatives, Illinois Deputy Governor Sol Flores, former Village of Maywood Mayor Edwenna Perkins, and current Maywood Mayor Nathaniel George Booker. The event was complimented by live music and refreshments.
Maywood Supportive Living represents a $50 million investment in Maywood and features the adaptive re-use of the former Baptist Retirement Homes. The property, which was added to the State of Illinois’ National Register of Historic Places in 2017, will be fully renovated into a supportive living facility for seniors age 65 and up. When completed, Maywood Supportive Living will offer 100 units of supportive housing, a commercial kitchen, dining room, resident lounge, game room, movie theater room, general store, a library, beauty shop, exercise room, wellness rooms and exam rooms. The project will create 130 temporary construction jobs and 70 permanent jobs.
“With the onsite staff that will be here,” Speaker Welch told the crowd, “our seniors will be able to get all the support they need and most definitely deserve.”
Project developer Celadon Partners, LLC received the SLF certification from the State of Illinois and will operate the facility consistent with State regulations. Celadon, which has completed seven affordable housing redevelopments throughout Illinois, will partner with a local nonprofit partner and will have referral programs with Hines Veterans Administration Hospital and Loyola Medical Center, both in Maywood.
There will be as many as 110 beds in the 100 units (83 studio and 17 one-bedroom units) and each will include a full bath, kitchenette with refrigerator, microwave, cabinets and sink, and in-unit nurse call system. Group and individual programming will be led by staff and local partners offering social services and events for residents. Other assistance will include activities for daily living, including medication management, housekeeping and laundry.
“Affordable and supportive senior housing is a key component of making the [senior] stage of life possible for all of our residents, regardless of their socioeconomic means,” added Deputy Governor Flores. “For more than 15 years, this historic building has been vacant, sitting idle, waiting for a new purpose once again. Eighteen months from now this building will be beautiful and ready to serve its residents thanks to continued perseverance from the community and stakeholders.
CCLF provided Celadon Partners a $5,000,000 predevelopment loan for Maywood Supportive Living. Celadon also received financing for the project from the Illinois Housing Development Authority, a 4% Low-Income Housing Tax Credit and Historic Tax Credit equity from NDC, and Illinois Donation Tax Credit equity from US Bank. Celadon Partners is a repeat CCLF borrower.
“Thank you CCLF for being there for us when we needed you,” said Aron Weisner, Consultant for Celadon Partners. “The CCLF team quickly worked with us to get through the approval process. [The CCLF] team and product are one-of-a-kind and make complicated and unique projects like Maywood Supportive Living possible. Thank you for your continued partnership and for being there for the Chicago development community.”
“Our missions are aligned around high qualify affordable housing and community development and it is pleasure to help Celadon move its developments forward,” noted CCLF President Calvin L. Holmes. “Together, we will make Chicagoland a more equitable home for all of us.”