Rise Accepts Affordable Housing Champion Award for Emerald Ridge Development

March 29, 2016–On behalf of Emerald Ridge, Rise and the Southwestern Illinois Development Authority (SWIDA) accepted the 2016 Wyvetter H. Young Award in recognition of innovation and excellence in affordable housing at the 2016 Illinois Governor’s Conference on Affordable Housing at the Hyatt Regency Hotel in downtown Chicago.  The event is co-hosted by the Illinois Housing Council and Illinois Housing Development Authority.

Rise Community Development developed Emerald Ridge in partnership with the Southwestern Illinois Development Authority (SWIDA).  The grand opening for Emerald Ridge was held on April 20, 2015.  The redevelopment consists of 46 new single-family homes, with the majority of the homes occupied by existing neighborhood residents.  The new single-family homes are affordable to families earning 60% of the Area Median Income, which includes nearly two-thirds of the residents of East Alton.

“This is an acknowledgment of a remarkable collaborative effort,” said Stephen Acree, President of Rise.  “We share a sense of pride and accomplishment for this award but the most significant accomplishment is the transformation to this area of East Alton.”

Every year the Illinois Governor’s Conference on Affordable Housing awards three Affordable Housing Champion Awards for distinguished developments, initiatives or programs in affordable housing.  These nominees stand out for their commitment to serving the Annual Comprehensive Housing Plan focus areas and one or more of the State’s Priority Populations, and for having positive impacts on the community in which they are located.

About Rise (www.risestl.org) Rise is a nonprofit organization that partners with communities to build stronger, more equitable St. Louis area neighborhoods.  Rise develops both affordable and market-rate housing, particularly in neighborhoods with the potential to enhance economic diversity.  Rise has developed or assisted in over $675 million in neighborhood redevelopment in the St. Louis area.

About the Illinois Housing Council (www.ilhousing.org) Founded in 2002, the Illinois Housing Council (IHC), a statewide non-profit organization, was created to promote the stabilization of Illinois communities through the construction and preservation of affordable housing.  IHC is comprised of industry leaders committed to advancing our mission through education, information and constructive relationships with local, state and federal officials.

About the Illinois Housing Development Authority (www.ihda.org) The Illinois Housing Development Authority (IHDA) creates opportunities for Illinois residents to build stronger futures. IHDA programs offer buyers and renters real options to make housing affordable.

About the Southwestern Illinois Development Authority (www.swida.org) The Southwestern Illinois Development Authority (SWIDA) is Southwestern Illinois’ hands-on regional economic development authority.  Through its partnerships with parties in the public and private sectors, the organization works to jumpstart investments in St. Louis’ Metro East region, helping to take plans off the drawing board and turn them into bricks and mortar.

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