The Haven at Market Place Development
The Haven at Market Place Development
CHAMPAIGN - A groundbreaking ceremony for The Haven at Market Place will be held for invited guests on December 14, 2018, at 10:00 AM, at 501 Interstate Drive, Champaign, site of the future home of The Haven at Market Place.
Conveniently located near the Marketplace Mall behind Walmart, Haven Court will consist of a 98-unit, three-story apartment building serving individuals age 55 and older. Haven Flats will provide 24 one-story apartment units for individuals with special needs. Apartment units provide spacious living areas with all appliances, including an in-unit washer and dryer. Amenities include a large community room and kitchen; a computer lab; fitness center; bicycle storage; card rooms; outdoor walking areas; raised garden plots; a dog park
and pickle-ball courts.
The Haven is a joint venture between Brinshore Development, a for-profit affordable housing development company located in Northbrook, Illinois and Oak Grove Development Corporation, a non-profit affiliate of the Housing Authority of Champaign County.
"The Haven at Marketplace illustrates the true meaning of public-private partnerships. Affordable housing in today's real estate market is only made possible through joint ventures" said David A. Northern, Sr. CEO of Oak Grove Development Corporation. "Having quality housing choices is the underlying bedrock of any community and we are excited to offer this wonderful new affordable housing development to the Champaign County community."
The Haven will be financed with tax-exempt bonds from the Eastern Illinois Economic Development Corporation; Low Income Housing Tax Credits allocated from the Illinois Housing Development Authority; equity investment from Richman Group Capital Corporation and Clocktower Capital; private mortgage funds from JP Morgan Chase Bank and secondary financing from the Housing Authority of Champaign County.
For more information, please contact the Housing Authority of Champaign County at (217) 378-7100.
