ROCHELLE, IL – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on the future site of Willis Senior Lofts, an affordable housing development for lower-income seniors in Ogle County, during a ceremony with community leaders and financing partners.
The 60-unit property represents LAC’s second new construction deal in Illinois. Willis Senior Lofts will serve residents aged 55 and older, with 45 units restricted to households earning less than 60 percent of the area median income (AMI) and 15 units restricted to 30 percent AMI.
“Lincoln Avenue Communities is thrilled to start construction on our second ground-up development in Illinois,” said Russell Condas, LAC Senior Vice President, Development. “We’re especially proud to provide a deeper range of affordability for seniors who face unique barriers to securing high-quality homes in their communities.”
Construction of Willis Senior Lofts is expected to end in spring 2025. The property will be Enterprise Green- and Net Zero-certified and will include a fitness center, theater room, walking path, raised community garden and other amenities.
The development was financed using 9% Low Income Housing Tax Credits, a soft first mortgage from the Illinois Housing Development Authority, $4.9 million in IHDA soft funds, and 45L energy efficiency credit equity. CREA bought both the LIHTC and 45L credits, and Chase will provide a construction loan for the development.
“The Willis Senior Lofts groundbreaking comes at a time when senior housing is in fantastic need, and Chase is proud to help finance the first non-subsidized affordable housing development within the Rochelle community,” said John Bernhard, Executive Director, Chase Community Development Banking. “These modern, quality, affordable housing units will give seniors in the Rochelle area a place to call home, where they can thrive and enter the next chapter in their lives.”
The ceremony featured remarks from Rochelle Mayor John Bearrows and Congressman Darin LaHood, among other state and local leaders. Following remarks, LAC formally broke ground on a section of the property to mark the beginning of construction.

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FORT COLLINS, CO – CA Ventures, an international real estate investment, development and management company, is excited to announce the sale of 281 Willow, an apartment building ideally located in Fort Collins, Colorado.
The $65 million sale was made possible due to the leadership of CA Ventures CEO Tom Scott and Chief Investment Officer John Diedrich. The sale was arranged by the Walker & Dunlop Denver Investment Sales team on behalf of CA Ventures, the client, and Borello Asset Management Inc., which was the buyer.
281 Willow is a 197-unit, newly constructed Class A apartment community conveniently located in the flourishing market of Fort Collins, Colorado, which has strong multifamily fundamentals.
Located directly adjacent to downtown Fort Collins, the apartment community offers residents central access to everything that the city has to offer, including abundant restaurants, retail and recreation outlets to employment opportunities.
281 Collins is also a small more than one mile from the heartbeat of Fort Collins — the campus of Colorado State University, which is home to 33,000 full-time students and 2,600 faculty.
Residents who live at the apartment community will have an simple commute to downtown Fort Collins, the CSU campus, numerous UTHealth hospitals as well as major employment centers throughout the city.
281 Collins isn t just about the ideal location, though. The amenities of the property are quite impressive, too — from rooftop decks to an oversized spa, fitness center, resident lounges and more.
The features inside the apartments are just as attractive. All are designed in a trendy, upscale and modern way. There are studio, one- and two-bedroom floor plans, and most come with a personal patio or balcony to provide outdoor space.
Each unit features quartz countertops throughout, oversized windows, programmable thermostats, open-concept living areas, a washer and dryer, stainless steel appliance package, designer faucets and tile backsplashes.
Some units even come with large walk-in closets, expansive nine-foot and vaulted ceilings and a kitchen prep island.
Other conveniences and security features include online rent payments, service requests, leasing and applications, as well as professional on-site management and maintenance. Covered parking is also available for select units.
CA Ventures has grown from a small niche company started in 2004 to a multi-faceted, global commercial real estate firm. Today, it has more than $10 billion in global assets.
Based in Chicago, CA Ventures is led by founder and CEO Tom Scott and Chief Investment Officer John Diedrich.

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CLEVELAND, OH – Local Cleveland officials joined The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, and University Hospitals (UH), one of the nation’s leading health care systems, for a ribbon-cutting ceremony to celebrate the grand opening of The Davis Apartments (The Davis), a 52-unit affordable housing apartment community, and the UH Community Wellness Center in Cleveland s Glenville neighborhood.
The community is The NRP Group s third “Health and Housing” development, conceived to address social determinants of health (SDOH). The first project, Residences at Career Gateway in Columbus, Ohio, opened in 2018; the second, Via Sana in the Clark-Fulton neighborhood of Cleveland opened in 2022. Each of these affordable housing communities was made in partnership with the City of Cleveland, leveraging cross-sector collaboration, and aiming to address historic neighborhood disinvestment through new construction. This is the second of UH s Community Wellness Centers; the first opened in Bedford, Ohio, earlier this year.
The history of University Hospitals as an anchor institution in this community dates back 155 years, said Dr. Daniel Simon, President, Academic & External Affairs and Chief Scientific Officer at University Hospitals. We re proud to celebrate the completion of this community, and grateful to have had an opportunity to partner with The NRP Group. By providing high-quality housing and supportive services to its residents, The Davis enables our hospital staff to reach beyond our four walls to address SDOH in a historically disinvested neighborhood. This directly aligns with our institution s mission: ‘To Heal. To Teach. To Learn.
The Community Wellness Center serves as a venue for UH caregivers to engage with Glenville residents by delivering preventive health care and other solutions addressing SDOH. The center s offerings include healthy cooking demonstrations, a Food For Life Market, support for pregnant women and young mothers, programs to combat senior citizen isolation, telehealth services and training in workforce and financial literacy.
Located at East 105th Street and Churchill Road on the site of the former Harry E. Davis Elementary School, which had been vacant since 2006, The Davis comprises one-, two-, and three-bedroom apartment homes, along with four three-bedroom townhomes, and serves as home to individuals and families with incomes equal to or below 60 percent of the Area Median Income (AMI).
Amenities at The Davis include a community room, a fitness center, laundry facilities, a playground, a business center, trash/recycling rooms on each floor, a pet-friendly atmosphere and controlled access for added security.
Glenville is located less than a mile from University Circle, home to Case Western Reserve University, the Cleveland Clinic, the Cleveland Museum of Art and the Cleveland Museum of Natural History, as well as shops, restaurants and grocery stores. The Davis proximity to these anchor institutions and employment opportunities lays a strong foundation for making these centers of learning and jobs accessible to individuals of all income levels.
“We acknowledge that a substantial part of the direct medical costs for our Black, Latinx, and Asian-American neighbors are avoidable and related to health inequities. Today, the UH wellness center at Glenville is one way we are working to change that, said Celina Cunanan, Chief Diversity, Equity & Belonging Officer, at University Hospitals.
Funding for the project, which was designed by RDL Architects, was provided by Ohio Finance Housing Agency (OHFA), as well as RiverHills Bank and PNC Bank.
The NRP Group is dedicated to making affordable communities that provide residents with opportunities for long-term success, said J. David Heller, President and CEO of The NRP Group. We wouldn t be standing here at The Davis today without the tireless efforts of City of Cleveland officials and University Hospitals staff.
The Davis is named after Harry E. Davis, a Cleveland native who served four consecutive terms in the Ohio State House before becoming the first African American member of the Cleveland Civil Service Commission and serving as an Ohio State Senator.

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