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Local Business

Residences of Lake in the Hill opening Aug. 5

LAKE IN THE HILLS – The Residences of Lake in the Hills, a new affordable housing development for seniors, will have a grand opening at 9:30 a.m. Aug. 5 at 2601 Village Hall Drive, Lake in the Hills.

The development features 10 studio, 62 one- and 20 two-bedroom units offering affordable rents for seniors 55 and older.

Joining Dan Kotcher, of DKI, the developer, at the grand opening will be U.S. Rep. Peter Roskam; Mary Kenney, executive director of the Illinois Housing Development Authority; Tina Hill, chairwoman of the McHenry County Board; and Paul Mulcahy, Lake in the Hills village president.

The $20.5 million project was completed through public-private partnerships undertaken by the Illinois Housing Development Authority, JP Morgan Chase, McHenry County and Chicago Federal Home Loan Bank. The Illinois Department of Commerce and Economic Opportunity also provided a $300,000 grant to make the complex energy-efficient.

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