Affordable Senior and Individuals With Developmental Disabilities Housing Project
To increase the supply of affordable housing within Naperville for seniors 62 and older, as well as for individuals 21 and older with intellectual and developmental disabilities, the City issued a request for proposals by which interested developers could seek to acquire and develop approximately 6.1 acres of property owned by the City (the "project"). The land being developed is located south of 103rd Street and east of Illinois Route 59.
Two firms were selected as the final candidates to develop the project: Gorman & Company, LLC and Mercy Housing-Lakefront. However, in mid-June 2022, Mercy Housing-Lakefront advised the City that it would not seek to develop the project. At its June 21, 2022, meeting, City Council approved major business terms for the project between the City and remaining firm Gorman & Company, LLC.
View a summary of the April 6, 2022, Accessible Community Task Force meeting, at which Gorman & Company, LLC and Mercy Housing-Lakefront appeared.
View a summary of the April 19, 2022, Senior Task Force meeting, at which Gorman & Company, LLC and Mercy Housing-Lakefront appeared.
The following is a summary of the remaining phases of the project as currently anticipated:
Phase III — City Council consideration of major business terms ("MBTs") for the project
At its June 21, 2022, meeting, City Council adopted a resolution approving MBTs to be entered into between the City and Gorman & Company, LLC for the project.
Phase IV (current phase) — City Council decision to proceed with the project subject to approved MBT agreement and future owner's acknowledgement and acceptance agreement
Prior to the July 19, 2022, City council meeting, Gorman & Company, LLC will submit a proposal specifying an affordability timeframe for the project (how long the project will maintain the affordability requirements provided for in the MBTs), as well as a proposed purchase price for the property.
City Council will decide at its July 19 meeting whether to pass an ordinance approving execution of an MBTs agreement with Gorman & Company, LLC for development of the project.
Phase V — Obtaining project funding commitments and City entitlements (August 2022 to completion)
The developer will prepare engineering, landscaping, architectural and other plans needed to develop the site. These plans will be subject to review and approval by the Planning and Zoning Commission and approval by the City Council per the Naperville Municipal Code. The developer will also be seeking funding commitments for the project.
The project property will be conveyed to the developer by the City after the developer obtains necessary funding and City zoning entitlements for the project.
Phase VI — Construction and leasing
Construction is anticipated to begin in summer 2024 and to last for approximately 18 months. Tenant leasing is expected to begin in 2026.