SWANSEA, Ill. — Southwestern Illinois Development Authority (SWIDA), Bywater Development Group and Bi-State Development have broken ground on Metro Landing of Swansea, a $10.9 million seniors housing community adjacent to the Swansea MetroLink Station in the St. Louis suburb of Swansea.
Metro Landing of Swansea will feature a three-story building with 62 affordable one- and two-bedroom apartments for older adults seeking an independent lifestyle. The Swansea Station is located on the MetroBikeLink trail, so residents will also be able to utilize the trail for exercise and recreation.
SWIDA and Bywater, which are jointly developing the project, secured the majority of the financing from the Illinois Housing Development Authority (IHDA), with additional construction financing provided by PNC Bank. Additional support comes from the Illinois Department of Commerce and Economic Opportunity (DCEO) and Ameren, along with the St. Clair County Intergovernmental Grants Department.
Speaking at the groundbreaking event, SWIDA Chairman James Nations commented, “Metro Landing of Swansea is truly an example of how public and private partnerships, coupled with broad community support, can lead to a significant community benefit,” says James Nations, SWIDA chairman. “As the need for quality seniors housing continues to grow, this project is an excellent way for SWIDA to contribute to the region’s active senior housing choices.”
St. Louis-based Altman Charter is serving as general contractor on the project, which is scheduled for completion in spring of 2019. Chicago-based Worn Jerabek Wiltse Architects is the architect.