November 20, 2019
National not-for-profit The NHP Foundation (NHPF) acquired the Edwin C. Berry Manor Apartments, a Section 8 property at 737 E. 69th St. in the South Side’s Woodlawn neighborhood. Pricing wasn’t disclosed.
NHPF will preserve and maintain the 57-unit affordable property, built in 1991. It’s the fourth property the organization has acquired or built in Chicago in the past five years, and the first specifically for seniors.
Dick Burns, the organization’s president and CEO, emphasized a need for affordable senior housing in Chicago. Citing a recent study, he said, “37% of Chicago households age 65 to 79—or about 220,000–are cost-burdened, compared with 30.8% for the nation overall.”
Financing from the Low Income Investment Fund (LIIF) made the acquisition possible. “The preservation of Edwin C. Berry Manor Apartments represents the best of what private/public partnerships can produce in Chicago,” said Holly Denniston-Chase, LIIF’s deputy director of the Mid-Atlantic region.
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