Fred C. Matthews III Senior Housing
Fred C. Mathews III Senior Housing is one of six properties acquired by POAH from the YMCA of Metropolitan Chicago in 2019. This acquisition expanded POAH’s footprint in Chicago into three new communities plus the suburb of Harvey, and preserved 461 affordable apartments for low-income seniors for many years to come.
This 60-unit complex is located on the South Side of Chicago in the Grand Boulevard neighborhood.
POAH converted the rental subsidy from Section 202 Project Rental Assistance Contracts to more traditional HAP project-based contracts, which allow the nonprofit to realize cash flow and greater financial flexibility than previously allowed. Fred C. Matthews III received $3 million in capital upgrades, including common-area improvements, kitchen and bath upgrades, new roofs, make-up air units, and new generators. Property amenities include a community room, exercise room, laundry facilities and a library. A Community Impact coordinator connects residents with social services and health resources, and organizes programming for the community.
The property is located near grocery stores, pharmacies, hospitals and other city amenities.
- Blue Hub Capital