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Affordable housing complex celebrates opening in Lake in the Hills

LAKE IN THE HILLS – The Villas of Lake in the Hills celebrated its opening Wednesday with 60 new, affordable housing units.

The units – which range from one, two, and three bedrooms – were completed in 2015 after a 10-month construction project. The Villas benefits the diverse needs of its residents, which include working families, seniors, veterans and those with physical disabilities, developers said.

“This project addresses a huge need for affordable housing in the area,” developer Dan Kotcher said.

Developed by DKI Inc., The Villas maintains a silver level National Green Building Standard and contains amenities such as a fitness center, computer center and a library. Each unit offers its residents spaces that range from 850 to 1,300 square feet and cost between $700 and $1,000 a month.

After 60 years working in construction, the development’s first resident, 93-year-old Art Polcyn, said he developed a keen awareness for a quality build.

“I watched this project being built from the ground up.” Polcyn said. “I was amazed how well it was built.”

The construction of The Villas of Lake in the Hills was made possible by both public and private funding. Financial sources include an Illinois Housing Development Authority HOME loan, equity from the sale of Low Income Housing Tax Credits allocated by IHDA, a Department of Commerce and Economic Opportunity grant from the state of Illinois, a loan from JP Morgan Chase and a AHP grant from the Federal Home Loan Bank.

Upon the development’s opening day, 80 percent of units were leased. Currently, the wait list contains more than 200 names.

“I love it here. It’s a nice place to live, and the people are friendly,” resident Terra Bedi said. “I don’t plan on moving.”

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