Renovations Underway to Transform Former Paris High School into Affordable Senior Housing

PARIS - The Illinois Housing Development Authority (IHDA) and the Laborer's Home Development Corporation joined Paris Mayor Craig Smith, financing partners and local officials today to celebrate the groundbreaking of Tiger Senior Apartments. Named for the school's former mascot, the development will undergo a complete rehabilitation to preserve and restore the historic building that has been largely empty since students moved to a new campus after the 2014-2015 school year.  Construction is scheduled to be completed in December of 2020.

"This is a great opportunity that will bring quality senior housing to the area while saving a local landmark that had an uncertain future," IHDA Executive Director Kristin Faust said. "Tiger Senior Apartments will go a long way to meet the growing demand for affordable senior housing in Edgar County, and we're grateful to have had the city's support as our partners worked to preserve this piece of neighborhood history."

Developed by the Laborers' Home Development Corporation, the project is largely financed by federal tax credits awarded by IHDA that will generate more than $8.5 million in private capital to offset the cost of construction. In addition, the City of Paris donated the school building and land to the non-profit sponsor which generated an allocation of Illinois State Donation Tax Credits from IHDA. Further financial support was provided by Horizon Bank, the Richman Group, Clocktower Tax Credits and other partners.

"Projects like these don't happen without the partnership with IHDA and the support of the City.  IHDA worked side by side with us to ensure the funds were available for this project and to help us overcome some roadblocks we encountered along the way," said Laborers' Home Development Corp. Executive Director Jayne Lourash. "Furthermore, the support we received from the City of Paris is second to none. Mayor Smith is truly a champion of affordable housing in the City of Paris."

The redevelopment of the 110-year-old building will preserve or restore many original architectural features while the classrooms are renovated into 42 units in a mixture of studio, one- and two-bedroom apartments with new appliances and finishes. The development will have an on-site management office, gymnasium, auditorium, kitchen and lounges. The building will be brought up to current accessibility standards and will receive numerous upgrades including masonry restoration, replacement of large existing windows, complete replacement of fire suppression, mechanical, electrical and plumbing systems, a new elevator and energy code-related upgrades. Site amenities will include an exterior sitting area with benches and new landscaping.

All 42 units will be reserved for households earning no more than 60 percent of the Area Median Income, or $31,860 for a two-person household in Edgar County. Leasing will begin in August of 2020. For more information, contact the Laborers' Home Development Corporation at 217-789-6994. 

About the Illinois Housing Development Authority
IHDA (www.ihda.org) is a self-supporting state agency that finances the creation and the preservation of affordable housing across Illinois. Since its creation in 1967, IHDA has allocated $18 billion and financed approximately 255,000 affordable housing units for residents of Illinois