3 Diamond Development set to break ground on new affordable senior living facility in Peru

A new senior housing complex is coming to Peru and is scheduled to break ground in spring 2022.

Construction for the complex is expected to take one year from the start as the first occupants are about 24 months away from seeing more senior housing in Peru.

The complex will be located north of Wenzel Road and west of the Peru Social Security office and will be constructed by 3 Diamond Development, a Lincolnwood company specializing in affordable housing.

This location was one of the 24 approved applications for tax credits and one of three approved to build an affordable senior housing facility. The state received 49 applicants for the credits.

Attorney John Brandt spoke Monday at Peru City Council and said the $29 million in tax credits for the project equates to about $253 million of private capital to finance the 1,229 affordable units statewide.

The Peru location will include 10 buildings, housing 60 apartments. The buildings also will be single-story townhouses.

Aside from the living spaces the facility will include additional amenities, including a community room, a fitness center and each unit will have modern appliances.

Peru is one of the two non-metro areas to receive the approval from the state. Brandt believes this is a testament to what the city has to offer seniors.

“Peru offers what most metro communities offer, a very strong reason for Peru’s unanimous approval,” Brandt said. “3 Diamond Development again thanks the city of Peru officials for welcoming this great addition to Peru for our seniors.”

Brandt said 3 Diamond Development knew its application was strong based on the continual success of Peru and the need for these types of housing complexes in the area.

Brandt mentioned the zoning is in place and all required city ordinances have been passed by the council and the final plat will be recorded at closing in about 10 months.

“3 Diamond Development is very excited to start this much needed project,” Brandt said. “Back when this project was started the waitlist for a senior apartment in Peru was approximately four years. This will help but I expect it’s only the start.”