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$32M affordable senior housing development to fill void in Park Manor
ZPACT Development president Alvin Rider put together team for 2-acre development site owned by Park Manor Christian Church
A team of developers and church leaders are set to transform a long-vacant lot in Park Manor into a senior housing complex, aimed at addressing the community’s lack of senior housing, Block Club reported.
The development, called Park Manor Senior Residences, was one of 13 projects awarded federal low-income housing tax credits by the city, from the Department of Housing, in March. The credits can be sold to corporate entities to fund affordable housing.
The 2-acre site, at 8340 South King Drive, is owned by Park Manor Christian Church, which is spearheading the project along with ZPACT Developers and SPM Properties & Development.
The development is estimated to cost about $32 million, and the partners are assembling a financial package. Construction is slated to begin early next year, with the first residents moving in by 2026.
The first phase will offer 52 one- and two-bedroom units for independent seniors 63 and older. Amenities include a community room, health club, hair salon, green space, police substation and transportation for daily needs.
ZPACT president Alvin Rider, alongside estate attorney Ted London and Zollie Carradine, CEO of Ashlaur Construction, began conceptualizing the project three years ago to meet the community’s demand for senior housing.
Park Manor Christian Church had long envisioned utilizing the land for both a new church and senior housing. Despite those plans not materializing, the church has continuously used the space for community activities, including a community garden and a jazz concert series, which will continue post-construction.
The neighborhood is in need of senior housing. The nearby Montclare Senior Residences of Avalon Park is full and has a long waiting list, the outlet reported.
“As a development team, what we saw on the South and West sides is that developers weren’t from the community,” London said. “We decided to form a team and … get in the position to sit at the development table. We didn’t want to sit at the table and have crumbs. We wanted to order from the menu.”
—Quinn Donoghue
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