National Equity Fund, Inc. National Equity Fund, Inc.

Extraordinary things happen when you have great partners
Since 1987, National Equity Fund® has invested more than $13 billion revitalizing neighborhoods,
fostering economic growth and creating affordable sustainable housing.

Greenleaf Manor

Greenleaf Manor

Family Housing

Greenleaf Manor consists of 20 new townhome-style residences in three three-story buildings providing much needed affordable housing for working families in Glenview, Illinois. The ten two-, five three- and five four-bedroom apartments target households earning between 30-60 percent of Area Median Income. Five include Project Based Section 8 subsidies, of which two target individuals with disabilities.

The complex is conveniently located near many amenities, major employers and public transportation and offers ample community space with garden areas and a central courtyard. Apartments feature Energy Star appliances, screen doors, washer/dryer and garage parking. All buildings are equipped with automatic sprinkler and fire alarm systems. Additionally, the development is constructed to meet Enterprise Green Communities standards featuring sustainable elements such as high-efficiency HVAC systems and low-VOC materials.

Greenleaf Manor is co-sponsored by Daveri Development Group, a Chicago-based company working to create and revitalize affordable homes for people across the Midwest, and New Directions Housing Corporation, founded in 1994 to develop safe affordable housing for low-income individuals.

National Equity Fund® invested $8 million of LIHTC equity in Greenleaf Manor.


Project Details

Completed
2013
Location
3345 Sanders Road
Glenview, IL
Property Type
Family
Total Units
20
Mix of Residences
10-2 br, 5-3 br, 5-4 br
Limited Partnership
DDG Greenleaf Manor, LP
Tax Credit Equity
$8 million
Total Project Costs
$8.7 million
Sponsor
Daveri Development Group, LLC
New Directions Housing Corp.
Permanent Lenders
First Merit Bank
New Directions Housing Corp.
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