Senior Housing Community in Chicago Area To Feature 80 Units

NAPERVILLE, Ill. (June 18, 2012) Ryan Companies US, Inc. has begun construction of Thomas Place Orland Park, a $22-million, 80-unit, affordable, age-restricted senior apartment community. Ryan, along with its joint venture development partner, Jim Bergman, Providence Life Services and the rest of the development team, held a groundbreaking at the site last week.

The development is located on a four-acre site at the northeast corner of Wheeler Drive and Harlem Avenue in Orland Park, Ill. The site provides convenient access to shopping, medical services, dining, recreation and public transportation. Thomas Place Orland Park will be ready for occupancy in March 2013.

Thomas Place Orland Park further establishes the brand the development partnership has established in Illinois. The Thomas Place portfolio includes completed communities in Glenview, Ill., Fox Lake, Ill., and most recently Gurnee, Ill.

“Thomas Place Orland Park follows a firmly established business model for Ryan. Our focus is to bring quality housing developments to independent seniors who are restricted by limited financial resources,” said Dan Walsh, Vice President of Development, Ryan Companies US, Inc. “While they may be limited financially, they still have the same physical and social needs that Thomas Place satisfies.”

The four-story building will offer 72 high-quality, affordable apartments and eight market-rate apartments. The development will be comprised of 25 one-bedroom units, measuring 756 square feet, and 55 two-bedroom units, measuring approximately 1,008 square feet.

Apartments at Thomas Place Orland Park will include a balcony, a full-sized kitchen with modern cabinetry and appliances, window treatments and walk-in closets. The affordable units will offer above standard features. The market-rate units will be larger and will include higher-grade unit finishes. A distinctive amenity of Thomas Place Orland Park will be its 80 indoor and 25 outdoor parking spaces.

The addition to the development team of Providence Life Services, a fixture in the south suburbs with a reputation of quality care and progressive concepts in senior living, is a positive alliance for the project, according to Walsh. “The participation of Providence Life Services will expand the awareness within the market that Thomas Place is a community of dignity and compassion,” he added.

Providence Life Services Chief Executive Officer Richard Schutt is excited to be a part of a critically needed senior housing option in the area. “Many people think of Orland Park as a wealthy community. While there is a level of affluence in the area, more than 1,600 senior households in the local area qualify for residence at Thomas Place Orland Park.”

The project is being financed under the Section 42 affordable housing program administered by the Illinois Housing Development Authority (IHDA).

“Under Governor Pat Quinn, the Illinois Housing Development Authority (IHDA) is working to increase safe, decent and affordable housing opportunities for seniors statewide,” said IHDA Executive Director Mary R. Kenney. “Thomas Place Orland Park is a great example of how the federal housing tax credit program works to spur housing construction and to create jobs.”

The Orland Park project showcases Ryan’s expertise in development and construction as well as design. Design Build Architectural Services, Inc., a wholly-owned Ryan subsidiary, is providing architectural services. The façade of the building has a classic, elegant look and features board and batten siding and brick veneer. The building will have abundant resident common space that is centrally located between two residential wings of the building, a layout that was designed to encourage socializing and help create a sense of community. The common area will include a dining room and kitchen, a TV and entertainment lounge, a library, a game room, a media entertainment center and a fitness center.

The exterior of the property will be professionally landscaped with a private courtyard and a covered drop-off area for residents and guests. Renaissance Realty Group will provide on-site property management services. The property features state-of-the-art building security technology for controlled access and monitoring of resident and common area spaces.

Age-restriction guidelines require that all Thomas Place Orland Park residents must be 55 or older. Income restrictions apply to the 72 affordable units. The monthly rents for the one-bedroom units range from $786 to $975, and from $902 to $1,175 for the two-bedroom units. Pre-leasing will begin three months prior to occupancy. For more information about Thomas Place Orland Park, call (630) 328-1227.

Ryan is the developer, owner and/or general contractor on numerous multi-family housing projects in the Midwest. These projects account for in excess of 2,700 units, including more than 1,000 units in market-rate and affordable senior housing projects, which have been placed into service or are under construction.