Related Midwest, one of the region’s leading developers of affordable housing, yesterday welcomed elected officials, project partners, community stakeholders and residents to celebrate the reopening of Poplar Place, a 100-unit affordable family apartment community in Springfield, Illinois.
“The transformation of Poplar Place goes beyond building renovations — we’ve preserved and improved vital housing that will serve Springfield families for generations to come,” said Sarah Wick, Senior Vice President, Affordable Housing, Related Midwest. “From experience, we know that shared spaces like the community center, playground and green space further enhance the residential experience by connecting neighbors and instilling a sense of collective pride that extends into the surrounding neighborhood.”
Related Midwest’s rehabilitation of Poplar Place builds on the company’s mission to preserve and improve affordable housing. As one of the largest owners and operators of affordable homes in the Midwest, the company has never converted an affordable unit to market-rate.
“Poplar Place provides affordable housing options in the Springfield community,” said Illinois state Sen. Doris Turner (D-Springfield). “Expanding affordable housing units boosts our local economy and increases opportunities for people to live and thrive in Springfield.”
“For 70 years, this neighborhood has been a part of our community’s story, and today marks the beginning of an exciting new chapter,” said Springfield Mayor Misty Buscher.“It’s wonderful to see Poplar Place flourish with these new developments, bringing fresh opportunities and a renewed sense of pride for everyone who calls it home.”
“I appreciate the conversations that have taken place and partnerships that have been created to make this project a reality,” said Alderman Roy Williams Jr. “As the alderman of this area, our neighbors and residents have wanted this for quite some time. Through the community forums and discussions, voices have been heard, and this project has finally been complete.”
Financing for the redevelopment of Poplar Place was achieved with the support of the Illinois Housing Development Authority, Springfield Housing Authority, Heartland Bank and Trust Company, Red Stone Equity Partners and CVS Health.
“Affordable housing is more than a roof over your head. It is the foundation for a family’s well-being, for educational and professional opportunity, for civic engagement and more,” said IHDA Executive Director Kristin Faust. “The reinvention of Poplar Place will have an uplifting effect for the entire city, and we are proud to be a part of this transformation that will improve the quality of life for residents and neighbors for years to come.”
“When I was growing up in Springfield, Poplar Place was a pillar of the community that many families called home. It is a wonderful moment for the city that this valuable resource for affordable housing will be given a new life,” said Jackie Newman, Executive Director for the Springfield Housing Authority (SHA) and President of Capital City Coalition NFP. “SHA and our nonprofit partner Capital City Coalition are proud to partner with Related Midwest and the city on this important work, which will revitalize Poplar Place for a new generation of families.”
“Heartland Bank has an exceptional team of bankers, and we are thrilled to collaborate with Related Midwest,” said Greg Maher, Vice President and Commercial Lender at Heartland Bank. “Together, we aim to enhance our community by providing the additional resources and expertise essential for this project’s success.”
“We’re thrilled to have supported Related Midwest in this transformative redevelopment for East Springfield,” said Cat Vielma, Director of Acquisitions at Red Stone Equity Partners. “This private-public partnership is a living testimony to the importance of the low-income housing tax credit and it reminds us of the urgency to find new resources, so we can celebrate more revitalizations like Poplar all over our great state.”
“Our investment in the transformation of Poplar Place is a testament to the essential role affordable housing plays in reducing health inequities and improving health outcomes,” said Rushil Desai, Chief Executive Officer, Aetna Better Health of Illinois. “We will continue to work alongside our regional partners to find additional opportunities that will help support and uplift Poplar Place residents as they begin this exciting new chapter of their lives.”
Designed by Evan Lloyd Architects, the redevelopment of Poplar Place modernized apartment interiors with new finishes throughout including plank flooring, interior doors and hardware; full kitchen and bath replacements, complete with Whirlpool appliances and Delta fixtures; in-unit laundry; and energy-efficient lighting and HVAC systems. Extensive exterior renovation work included the installation of new roofing, exterior siding and windows. In addition, one-car garages were constructed for each of the 50 single-family homes.
The affordable apartments range from two to four bedrooms and rents range from $800 to $925. Qualified incomes for the income-restricted apartments range from $44,400 to $83,640. Applications can be completed online, mailed, e-mailed directly or picked up at the management office located at 1121 Oakdale St. between the hours of 8 a.m. and 5 p.m. Monday through Friday. All completed applications received will be logged in order of date and time stamped. A $35 application fee in the form of a money order for every household member 18 years of age or older must be submitted with the completed application.
