PIRHL still seeks Bradley housing complex
At Monday’s Bradley Village Board meeting, David Petroni, vice president of development for Cleveland, Ohio-based PIRHL (Partnership for Income Restricted Housing Leadership), explained the company still is pursuing plans for the now $15 million development.
The project would provide housing for income-qualified senior citizens and military veterans age 62 and older.
The project of 48 one-bedroom and 12 two-bedroom apartments has been on the drawing board for about five years. However, because of IHDA funding being limited, the development has been stalled.
At the board meeting, trustees extended PIRHL a one-year extension to compete its development plans.
Petroni said it will not be known until mid 2019 as to whether the group has been successful with their IHDA application.
If successful, construction could begin by April 2020 and take roughly a year. He believes the leasing process could begin by late 2020 or early 2021.
PIRHL was founded in 2004. PIRHL has developed 53 properties largely in the Midwest, Mid-Atlantic and Southeast.
Rental rates within the Bradley development would range from $400 to $700 for one-bedroom apartments and $460 to $825 for two bedrooms.