The Naperville City Council signed off on a formal agreement this week under which Tower Court Naperville will buy 4.68 acres of city land for an affordable housing complex for seniors and adults with intellectual and developmental disabilities.
Under the terms, Tour Court Naperville, a subsidiary of Gorman & Co., will provide $320,000 to the city at closing and pay off the balance over the next 30 years.
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The property is located at the southeast corner of 103rd Street and Route 59 on the city’s south side.
The agreement paves the way for Tower Court to apply for low-income housing tax credits from the Illinois Housing Development Authority.
A formal decision on the tax credit application is expected in May or June.
Detailed plans for the 71-unit development are expected to be submitted in the coming week so city staff can review them before scheduling public hearings on zoning and related entitlement requests later in the year.
The complex will provide a tenant mix of 75% senior housing for people 62 and older and 25% IDD housing for anyone 18 and older.
Sale of the property won’t be finalized until the city signs off on all the zoning issues and Tower Court secures its funding, which is could occur by September 2024.
Construction would begin shortly thereafter and take 18 months to complete. Under that timeline, residents could begin occupying units in early 2026.
Naperville Senior Task Force members have been pushing since 2014 for the city to increase its supply of affordable housing for older adults, and a group of Naperville parents appealed to the council in 2021 for help in creating a place where their adult children with intellectual or developmental disabilities could live.
The council’s solution was an apartment complex in Naperville where both groups could live independently and affordably.