Community members and officials gather for the grand opening of Willis Senior Lofts, showcasing its amenities and sustainable design.
Rochelle, Illinois, August 14, 2025
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.
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.
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.
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.
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.
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.
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.
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.
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.
Willis Senior Lofts is a new four-story affordable housing building in Rochelle, Illinois, with 60 apartments for people aged 55 and over.
Lease-up began on July 25, 2025.
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.
The building contains one- and two-bedroom apartments.
Shared amenities include a fitness center, a theater room, and a community garden.
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.
The design targets Enterprise Green and Net-Zero performance standards.
| 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 |
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