News
Morrissey Construction Company Breaks Ground on First Green Project South of Chicago
(9/18/08) – Morrissey Construction Company is pleased to announce that it has broken ground on construction of the Hunter’s Trace Subdivision located in Benton, IL. Hunter's Trace Subdivision is the first "Green" project south of Chicago. The new affordable housing project will consist of 32 single-family rental homes, all with three bedrooms and one-car garages, as well as a children’s recreational area and a professionally designed clubhouse with conference room, kitchen and computer lab. The homes will also feature beautiful brick exteriors, vinyl siding and energy-efficient amenities.
Capstone Development and Hunter Housing Partners, Inc., secured $6.8 million to build the development. The Illinois Housing and Development Authority (IHDA) invested more than $6.41 million in low-interest loans and tax credit equity, including a $2.25 million low-interest loan from federal HOME funds and $526,040 in Low-Income Housing Tax Credits.
A groundbreaking ceremony held on Friday, August 22, 2008 was attended by representatives from Capstone Development Group, IHDA, Morrissey Construction and other members of the development team.
Bill Luchini, president of Capstone Development, said the homes would fill a great need. “With the help of IHDA financing and the full support of the city, we are honored to be able to provide such a quality housing product,” he was quoted as saying.
Morrissey Construction Company is a general contracting firm actively engaged in all phases of the construction industry for nearly 55 years, specializing in the development and construction of multi-family affordable housing developments, educational, design/build, commercial and institutional facilities.
