Senior Housing development announced near Swansea Station

swansea-rendering_750xx4590-2582-0-194Senior Housing will be the latest addition to development near MetroLink at the Swansea Station.  Southwestern Illinois Development Authority (SWIDA), in partnership with Bywater Development Group and Bi-State Development (BSD), is announced a new, $10.5 million development that will bring senior apartment living adjacent to the Swansea MetroLink Station in Swansea, Ill. The transit-oriented development (TOD) project, which will be developed by SWIDA and Bywater, was approved by the Illinois Housing Development Authority (IHDA) in Chicago on September 16.

This new development, called 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. Located adjacent to the Swansea MetroLink Station, residents will have car-free transportation options via MetroLink and MetroBus to conveniently access restaurants, retail, entertainment venues, recreational locations, employment centers, and medical facilities around the bi-state region. The Swansea Station is located on the Metro East Park and Recreation District BikeLink trail system, so seniors will be able to utilize the trail for exercise and recreation.

This development would not have occurred without the collaboration of a number of groups including IHDA, the St. Clair County Transit District and the Village of Swansea.  The Village has been a vital asset in the predevelopment planning process.  “It is truly an example of how public and private partnerships can lead to an important community investment,” James Nations, SWIDA’s Chairman said. “This is an excellent opportunity for SWIDA and Bywater Development Group to contribute to active senior housing as this segment of the population continues to grow.” The SWIDA Board of Directors is seeking other markets in the region in need of comparable developments.

Metro Landing of Swansea is scheduled for construction commencement in the summer of 2017 with full completion by late summer of 2018.