KANKAKEE, Ill. (September 28, 2023)—Related Affordable today announced that the U.S. Department of Housing and Urban Development (HUD) has awarded Related Affordable $550,000 for a loan commitment under the Green and Resilient Retrofit Program (GRRP) for energy efficiency and climate resiliency upgrades to Riverwoods Apartments in Kankakee, Ill.
Related Affordable will use the funds to add solar panels to the roof, install attic insulation and LED lighting, and make upgrades to heating at the 125-unit Riverwoods Apartments, an affordable housing community serving senior residents. Related Midwest is the largest owner and developer of affordable housing communities in the Midwest.
"As a leader in affordable housing and environmentally conscious real estate across the country, Related is honored to receive this award from HUD which will allow affordable housing developments like Riverwoods Apartments to provide energy efficiency improvements creating a more climate-resilient community,” said Sarah Wick, Senior Vice President at Related Affordable.
Related Affordable previously announced an investment in additional upgrades at Riverwoods Apartments, including updates to common areas and amenity spaces, new roofing and the installation of solar panels. The GRRP renovations, which are funded through President Biden’s Inflation Reduction Act, will take place in tandem with the previously announced upgrades to create a more modern and efficient community for residents of Riverwoods and prepare the building for weather climate challenges for years to come.
“HUD is building a more equitable and sustainable housing system to ensure low-income families have better access to a healthier, energy efficient place to call home,” said Regional Administrator Diane M. Shelley.
Related Midwest: Tricia Van Horn (312) 832-4114 tvanhorn@relatedmidwest.com
