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We have attempted to answer these questions with the information we had at the time in no order of priority. If an answer changes, we will update this page accordingly. Have a question we did not address? Click on this link: SUBMIT
Our preference is to establish our 1st community within a 15 mile radius of Schaumburg, IL. Future communities can be located anywhere within the United States.
We estimate that it will take ~$8,000,000 to build the community. At present our plan is to raise at least $4,000,000 in donations and supplement that with financing.
All units will be leased. Special needs units will be offered at less than market rate. Leasing offers more flexibility to the residents while reducing financial risk.
Rates will ultimately depend upon prevailing market rates at the time of rental of your unit. At present, we plan to rent the special needs units at ~$0.5 to 1 per sq.ft. and the market rate units at ~$1 to 2 per sq. ft
Residents will pay a one-time non-refundable community fee when they move in. Fees will be determined based on the size of the unit leased. This fee covers the costs of preparing the unit to lease when the resident departs the community.
No. Rents will only be used to fund the community you live in.
At least 60 total – ~50/50 split between special needs units & market rate units.
Our plans are for special needs units to be from 650 to 900 sq. ft. Market rate units will be from 1000 to 2000 sq. ft.
We have adopted a tax-exempt governance model which gives us the flexibility to lease to special needs adults, family & friends and commercial entities. The model has been vetted by legal counsel and all tax-exempt entities that are part of the model are recognized by the IRS & the Illinois Attorney General.
We are entirely privately funded and intend to only accept funds from the lessees (residents/families/trusts, etc.) & donors.
We have established a board-designated endowment to provide the funds necessary to cover the rental costs of those individuals who encounter financial difficulties. It is our intent that no special needs adult will have to leave the community due to an inability to pay the rent.
Although we encourage family members to also live in the community, it is not a requirement.
Someone with a connection to the special needs community is welcome.
We plan to operate primarily as a residential community. Project ALEX staff will not provide licensed services, but we will contract with vetted entities to provide services such as medication distribution, etc.
Staff will be available to assist with tasks such as dressing & mobility. Requirements beyond these will have to be reviewed on a case-by-case basis.
Given the size of the community, we anticipate that there will be numerous naming opportunities with a variety of donation choices.
It is our intent to complete the construction of the community no later than 2028.
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