DKI secures tax credits for affordable housing in northwest suburban Chicago
- Developer successfully secured tax credits
- The Villas of Lake in the Hills leased up quickly and has a lengthy waiting list
Requirement
DKI – a developer specializing in affordable housing – approached us to prepare a market study for an apartment complex targeting low- and moderate-income families in a northwest suburb with very limited affordable options.
Approach
Leveraging our knowledge of the location, we prepared a market study that demonstrated the need for affordable family housing. This helped DKI secure municipal approvals and obtain Low-Income Housing Tax Credits.
Results
The Villas of Lake in the Hills leased up quickly, and the property now has a lengthy waiting list.
“Kretchmer Associates has been our go-to firm throughout my more than 25 years as a developer of affordable housing for the simple reason that I know I can always rely on Kretchmer Associates to deliver on a timely basis accurate and thoroughly researched market studies that have justifiably earned the respect of lenders and investors. I would never consider using another firm unless I had to.” ~ Dan Kotcher, DKI
