A groundbreaking ceremony in Paris – in Edgar County – has kicked-off a project that will transform the former Paris High School into senior citizen housing. Paris Mayor Craig Smith was joined by leaders from the Illinois Housing Development Authority celebrating what will be known as ‘Tiger Senior Apartments’. They are named after the school’s former mascot.
The building has been largely empty since students moved to a new campus after the 2014-2015 school year.
‘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,’’ said Illinois Housing Development Authority Executive Director Kristin Faust.
The project is largely financed by federal tax credits awarded by IHDA that will generate more than $8.5 million dollars in private capital to off-set the cost of construction. In addition, the City of Paris donated the school and land to the non-profit sponsor which generated an allocation of Illinois State Donation Tax Credits from IHDA. Further financial support came from several sources including Horizon Bank, the Richman Group, and Clocktower Tax Credits.
The classrooms will be renovated into 42 units of studio, one, and two-bedroom apartments. They will all 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 next year (2020).
