SWIDA is building on a solid base of experience in housing development as the organization has participated in the financing through bond issuance or direct lending of more than $64 million resulting in over 600 housing units including:
- Eden Retirement Village: Located in Edwardsville, IL, this development is a mix of independent and supportive housing for seniors. SWIDA was the bond issuing agency for the financing of the development.
- Meredian Village: A senior community development in Glen Carbon, IL which includes a mix of independent and supportive housing. SWIDA was the bond issuing agency for the financing of the development.
- Community Development Corporation and Emerson Park CDC: This coordinated development activity spanned several years and include the newly constructed single family homes in the City of East St. Louis. After many years of stagnant newly constructed homes for ownership, these were a huge asset to the community and residents. SWIDA played an integral role in providing pre-development and construction loan funds for land acquisition and building costs.
In recent years, SWIDA has expanded its residential development actives by providing direct financing, land acquisition and direct development services for several affordable housing tax-credit projects including:
- Parson Place: 276 multi-family housing project in East St. Louis, provided construction and long-term financing.
- Mount Sinai: 60 unit detached single family lease/purchase project, also in East St. Louis, assistance with land acquisition/site assemblage.
- Emerald Ridge 46 unit single family lease/purchase development in East Alton, of which SWIDA is a co-developer.
In terms of in house capacity for SWIDA, the Housing Director has brings to the organization over 10 years of community and housing development experience through various roles including program development and management, project underwriting, construction oversight and compliance for developments totaling nearly $50 million in total development costs which produced roughly 340 affordable housing units in Madison County.
