River Haven Place

Affordability in the rental market in East Dundee had been a growing issue, as demand for rental units and the number of cost-burdened renters had increased. With rental housing making up only a tiny sliver of the total housing stock in East Dundee, Village leadership partnered with Midwest developer Jim Bergman to introduce new rental opportunities that were affordable to residents.

River Haven Place is a 68-unit rental development located near the intersection of Illinois Route 25 and Illinois Route 72 in the Fox River Valley. The leasing process prioritized placing veterans and their families into the units, and all veterans and active-duty military were eligible for a waiver of the application fee and a 50 percent reduction in the required security deposit. The development is situated in the 24-acre River Haven subdivision and was one of two developments completed by Jim Bergman in June 2013. Gardiner Place, another development that sat adjacent to River Haven Place, is an 80-unit affordable senior apartment complex.

Bringing River Haven Place to East Dundee required the completion of an intergovernmental agreement between the Village of East Dundee, Dundee Township, and the East Dundee Fire Department. As part of the agreement, the Village purchased three acres of the 24-acre River Haven subdivision for a new fire station that would be located closer to the community it served. The police station moved from Village Hall to the old fire station after it was remodeled and renovated, and Village Hall was modernized and expanded as a result of the police station’s relocation. Meeting the needs of all of these community stakeholders required a great amount of local cooperation, and resident input — including a referendum to move the fire station — was solicited and valued in the decision-making process. The real estate for the new fire station, the purchase of the old fire station, and changes to the police station and Village Hall were financed through the Village’s Tax Increment Financing Districts and Business Development Districts. The River Haven subdivision was expected to generate about $200,000 in TIF dollars.

All 68 units are affordable and subject to reduced rents. Seventeen units are for families earning less than 30 percent of the Kane County area median income (AMI) ($23,850 for a four-person household in 2014) and 51 units were for households earning less than 60 percent of the Kane County AMI ($47,700 for a four-person household in 2014).