The Illinois Housing Development Authority (IHDA) has awarded federal Low-Income Housing Tax Credits (LIHTC) to Burlington Terrace, a collaborative affordable senior housing development led by Bywater Development Group, Simmons Development Group, Beacon-SOCAYR, Graham Health System, and the City of Galesburg.
The award marks a major milestone for the development and advances plans to bring 60 high-quality, affordable senior housing units to the Galesburg community. Burlington Terrace was designed to address the growing need for housing that allows older adults to live independently while maintaining convenient access to healthcare services, local amenities, and the community they call home.
The Burlington Terrace community will feature 60 thoughtfully designed villa-style apartments for adults age 55 and older. The development will consist of one- and two-bedroom apartment homes ranging from 688 to 811 square feet, offering modern, comfortable living spaces tailored to the needs of older adults.
Strategically located adjacent to Graham Health System’s newest medical facility, Burlington Terrace will provide residents with convenient access to ambulatory surgery, Convenient Care, and a broad range of primary and specialty care services. The close proximity to healthcare services supports independent living and provides added peace of mind for residents and their families.
The Burlington Terrace project represents a collaborative investment in the future of Galesburg, bringing together experienced housing developers, healthcare providers, and community leaders to expand affordable housing opportunities for older adults. This milestone directly aligns with the City of Galesburg’s high-priority strategic goal to increase the availability and variety of local housing options. The development is intended to support residents’ ability to age in place while strengthening the community’s long-term housing infrastructure.
“Receiving these tax credits is a tremendous accomplishment and reflects the strength of the partnership among our organizations,” the development team said in a joint statement. “Burlington Terrace represents more than new housing, it is an investment in the health, independence, and quality of life of Galesburg’s older adults. We appreciate IHDA’s confidence in this project and look forward to bringing this vision to life.”
Lease rates for Burlington Terrace will be affordable and based on Area Median Income (AMI) limits established annually by the U.S. Department of Housing and Urban Development (HUD), helping ensure high-quality, affordable housing remains accessible to income-qualified older adults in the Galesburg community.
The development partners of Bywater Development Group, Simmons Development Group, and Beacon-SOCAYR will oversee all aspects of Burlington Terrace, including planning, financing, construction, leasing, and long-term property management. Together, their experience in affordable housing development will help ensure the community is professionally managed and maintained for years to come.
Once complete, Burlington Terrace will provide a lasting benefit to the Galesburg community by helping address the growing demand for quality senior housing while supporting older adults’ ability to live independently with convenient access to healthcare services. Construction is anticipated to begin following the completion of financing and remaining pre-development activities. Additional project updates, including construction timelines and future leasing information, will be shared as they become available.
About the Burlington Terrace Development Burlington Terrace is a 60-unit affordable senior housing community planned for Galesburg, Illinois, for adults age 55 and older. The villa-style development is a collaborative project led by Bywater Development Group, Simmons Development Group, Beacon-SOCAYR, Graham Health System, and the City of Galesburg. Located adjacent to Graham Health System’s newest medical facility, Burlington Terrace is designed to provide high-quality, affordable housing that supports independent living with convenient access to healthcare services and community amenities.
About Bywater Development Group Bywater Development Group focuses on the planning, financing, implementation, and long-term operation of high-quality affordable housing. The company has successfully completed developments in Illinois, Missouri, Kentucky, and South Carolina. More information: www.bywaterdevelopment.com.
About Simmons Development Group Simmons Development Group is an emerging, minority owned developer which is growing in its capacity by working as a development partner on several developments in Illinois and Missouri. More information: Simmons Development Group.
About Beacon-SOCAYR Beacon-SOCAYR is an organization which focuses on both the development and operation/property management of affordable housing communities. Beacon-SOCAYR has successfully developed in multiple states and presently professionally manages over 6,800 affordable apartments. More information: https://beaconproperty.com/.
About Graham Health System Graham Health System serves the Galesburg community through four healthcare facilities, including its newest medical campus at 2028 N. Seminary Street, adjacent to the Burlington Terrace development. The campus features a soon-to-open ambulatory surgery center, imaging services, Convenient Care, and a variety of specialty care providers, expanding access to comprehensive healthcare services for the Galesburg community.
***Courtesy of the City of Galesburg***
