POAH Completes Renovations at Jesse Jackson Jr. Apartments for Seniors in Harvey

POAH Completes Renovations at Jesse Jackson Jr. Apartments for Seniors in Harvey

Harvey Ill. – More than 100 seniors in Harvey had a little extra to celebrate this holiday season, with the completion of renovations on the 120-unit Jesse Jackson Jr. Apartments in Harvey. Mayor Christopher Clark joined the residents earlier this month at a holiday lunch and tour of the buildings’ new amenities.

Preservation of Affordable Housing Inc. (POAH), which owns and manages the property, completed more than $13 million in construction that modernized apartments, overhauled and replaced building systems and common spaces, and created a 1,300 square foot outdoor pavilion that provides a communal gathering open space that connects the Jackson East and West buildings.

“These buildings look fantastic and represent the kind of investment I and my team work every day to bring to the city of Harvey,” Mayor Clark said. “Everyone deserves a great place to live, especially our fellow residents in their senior years. And this looks great.”

Recapitalization of the Jackson Apartments also completes POAH’s preservation of a 461-unit, 5-building affordable portfolio purchased in 2019 from the YMCA of Metro Chicago. That purchase also included a 120-unit senior building in downtown Harvey, a 101-unit senior building in Chicago’s South Chicago neighborhood, and 60-unit buildings in the Roseland and Grand Boulevard neighborhoods.

“With this project, we have now preserved and invested in more than 450 Section-8 supported apartments serving low-income seniors,” said Vice President Konrad Schlater of the POAH team that led this effort. “These new investments will set these properties up for healthy operations well into the future.”

POAH Communities LLC, POAH’s property management affiliate, will continue to manage the Jackson Apartments.

Ujamaa Construction and Canopy Architecture led the design and construction work. The Illinois Housing Development Authority provided much of the financing through tax-exempt bonds and 4% Low-Income Housing Tax Credits, and a permanent $5 million first mortgage. Berkadia invested $17.5 million in tax credit equity, and BMO provided construction financing.

Since entering the Chicago market 15 years ago, POAH has acquired or built 3,000 affordable homes across 12 Chicago neighborhoods and the suburbs of Harvey and Elgin IL. Nationally, POAH owns and manages more than 13,000 apartments in 12 states and Washington D.C.

POAH is a national nonprofit organization whose mission is to preserve, create and sustain affordable, healthy homes that support economic security, racial equity and access to opportunity for all.

For more information, visit www.poah.org.


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