Release Date: February 5, 2018
Contact: Sherry Tyler, 206.832.1306, email@example.com
VITUS ACQUIRES OGDEN MANOR TO ENHANCE LOW-INCOME HOUSING IN GREATER CHICAGO AREA
National developer increases its Illinois presence with fourth low-income housing property
NAPERVILLE, Ill. – Vitus, a national developer and owner of affordable housing, has announced the preservation and planned renovation of Ogden Manor, a low-income housing development in the Naperville community approximately 30 miles outside of Chicago. As part of a 20-year extension of the Housing Assistance Payment contract between Vitus and the Illinois Housing Development Authority (IHDA), all of the property’s 108 units will be occupied by residents paying no more than 30 percent of their household income on rent.
Ogden Manor joins Vitus’ portfolio of more than 100 properties nationwide and is the developer’s fourth acquisition in the state of Illinois and third within the greater Chicago metropolitan area. Built in 1979, Ogden Manor will be undergoing a number of renovations.
“For nearly forty years, Ogden Manor has provided quality, affordable housing to families and seniors in Naperville,” said Audra Hamernik, executive director of IHDA. “As with most residential buildings, rehabilitation is necessary to continue to provide safe and decent housing as time takes its toll. IHDA is proud to partner with Vitus and the Evergreen Real Estate Group to help finance site improvements so residents can continue to call Ogden Manor home.”
Vitus will be updating each apartment with new cabinetry, flooring and countertops as well as upgrades to comply with UFAS (Uniform Federal Accessibility Standards). Ogden Manor will also receive new exteriors and windows, and parking lot repairs. In addition, Vitus will incorporate “active design” features that help strengthen the community and promote healthy lifestyles. For example, the complex will receive new landscaping and improvements to the property’s playground and picnic area.
“Throughout Vitus’ 25 years of experience, we’ve seen that access to quality, affordable housing has a profound impact on the lives of our residents and the power to revitalize the communities they live in,” said Scott Langan, development director for Vitus. “With this investment, we hope to deepen the sense of pride residents have in their community and build on Ogden Manor’s excellent location, within walking distance of multiple parks, trails, shopping, dining and transit as well as schools and religious centers.”
Renovations of Ogden Manor are planned to be completed by January 2019.
Vitus’ mission is to create positive social impact – one community, one family and one life at a time. As an innovative leader in affordable housing across the nation, Vitus specializes in the preservation of affordable properties in market areas where the need is greatest. With an emphasis on the well-being of its residents, Vitus provides access to healthy choices by offering spaces for physical activity, community gardening, enhanced walkways and stairwells, bicycle storage and a variety of health and wellness programs. These active design elements establish wellness-centered communities that encourage healthy lifestyles. Since 1996, Vitus has developed and/or acquired more than 11,000 units of affordable housing in more than 100 properties, located across 22 states. A combined total of almost 25,000 residents now live in Vitus affordable housing communities across the country. www.vitus.com