Rochelle, Illinois, August 14, 2025
News Summary
Willis Senior Lofts, a new four-story affordable housing building, has opened its doors in Rochelle, Illinois, providing 60 units for residents aged 55 and over. The project aims to meet the growing demand for senior housing in the area, with over half of its units already occupied. With an emphasis on sustainability, the building features communal spaces and eco-friendly design certifications. Local leaders and housing partners celebrated the grand opening, highlighting the importance of affordable options for older adults.
Grand Opening: Willis Senior Lofts Brings 60 New Affordable Units to Rochelle, Illinois
A new four-story affordable housing building for older adults opened in Rochelle, Illinois. Willis Senior Lofts offers 60 units for residents aged 55 and over and began accepting tenants on July 25, 2025. More than half of the homes were already occupied at the time of the official opening.
What opened and who it serves
The project is a purpose-built senior rental community with one- and two-bedroom apartments. The building is designed to serve older adults who need lower-cost housing options, with 45 units set aside for households earning up to 60% of the area median income (AMI) and 15 units reserved for those earning up to 30% AMI. At opening, more than 30 units were occupied.
Cost, funding and certifications
Total development cost for the project was about $21 million. Funding combined a 9 percent Low Income Housing Tax Credit (LIHTC) equity investor, a first mortgage, $4.9 million in soft funds from the Illinois Housing Development Authority (IHDA), and 45L energy efficiency credits. The LIHTC and 45L credits were purchased by an equity investor, and a construction loan was provided by a commercial bank. The Ogle County Housing Authority committed 15 budget-based vouchers over 15 years to support tenant rent stability.
Building features and community spaces
The building includes a range of communal spaces aimed at day-to-day life and social connection. Amenities listed for residents include a fitness center, a theater room, and a community garden. The project was designed to meet Enterprise Green and Net-Zero certifications to reduce energy use and long-term operating costs.
Officials and ribbon-cutting
A ribbon-cutting and grand opening ceremony marked the completion. Speakers at the event included elected officials and local leaders. Representatives from the developer and housing partners were also present to outline the project’s goals and local impact.
Why the project matters locally
Local leaders say the community has seen limited recent development of senior housing, and demographic trends point to a growing need for affordable options for older adults. The project is intended to help address that unmet need in a rural county with an aging population.
Timeline and occupancy
Willis Senior Lofts opened for rentals on July 25, 2025. At the opening ceremony, officials reported that more than 30 units were already leased. The remaining units are available through the building’s leasing office, following income and eligibility rules tied to the income limits described above.
Partners and financial backers
- Equity through the 9% LIHTC program and 45L energy credits.
- Soft funds amounting to $4.9 million from the Illinois Housing Development Authority (IHDA).
- A construction loan from a commercial bank.
- Long-term rental support via budget-based vouchers committed by the county housing authority.
Broader context
The development represents a local response to a broader affordable housing shortage affecting many parts of the country, with special concern for older adults on fixed or limited incomes. By combining federal and state housing tools with energy-focused credits, the project aims to be both affordable and energy-efficient over time.
Frequently Asked Questions (FAQ)
What is Willis Senior Lofts?
Willis Senior Lofts is a new four-story affordable housing building in Rochelle, Illinois, with 60 apartments for people aged 55 and over.
When did the building open for rent?
Lease-up began on July 25, 2025.
How many units are affordable and what are the income limits?
Out of 60 units, 45 are for households earning up to 60% of AMI and 15 are for households earning up to 30% of AMI.
What types of apartments are available?
The building contains one- and two-bedroom apartments.
What amenities are included?
Shared amenities include a fitness center, a theater room, and a community garden.
How was the project funded?
Funding included a 9% LIHTC equity investment, a first mortgage, $4.9 million in soft financing from IHDA, 45L energy credits, and a construction loan from a bank. Local housing vouchers were also committed to support residents.
What certifications does the project aim to meet?
The design targets Enterprise Green and Net-Zero performance standards.
Key project features
| Feature | Detail |
|---|---|
| Project name | Willis Senior Lofts |
| Location | Rochelle, Illinois |
| Units | 60 (one- and two-bedroom) |
| Target age | 55 years and older |
| Income set-asides | 45 units at ≤60% AMI; 15 units at ≤30% AMI |
| Amenities | Fitness center, theater room, community garden |
| Certifications | Enterprise Green and Net-Zero design targets |
| Total cost | $21 million |
| Major funding sources | 9% LIHTC equity, 45L credits, IHDA soft funds ($4.9M), first mortgage, construction loan |
| Local support | 15 budget-based vouchers committed by county housing authority (15 years) |
| Lease start date | July 25, 2025 |
| Occupancy at opening | Over 30 units leased |
Deeper Dive: News & Info About This Topic
Construction IL Resources
Additional Resources
- Multifamily Biz: Grand Opening of Lincoln Avenue Communities
- Wikipedia: Affordable Housing
- My Stateline: Affordable Housing for Rochelle Seniors
- Google Search: Senior Housing Affordable Options
- Multi Housing News: BRP Cos Debuts Mixed-Use Project
- Encyclopedia Britannica: Mixed-Use Development
- Bisnow: Developers Hesitate on New Units in New Rochelle
- Google News: Affordable Housing New Rochelle
- MSN: New Senior Living Apartments in Rochelle
- Google Search: Affordable Housing Crisis
