04.20.07: Star Development receives Illinois LIHTC Allocation

ROCKFORD, IL April 20, 2007 - Star Development, L.L.C., a division of Star-Holdings of Illinois, L.L.C., received a total allocation of $493,375 in Low Income Housing Tax Credits (LIHTC) from the Illinois Housing Development Authority (IHDA) for North Prairie Apartments. This will mark the 27th allocation of LIHTC by IHDA to Star over the last 19 years.

North Prairie is an affordable housing scattered site redevelopment located in northern Illinois consisting of 124 units that were constructed in the 1980's. Star Development, along with Star General Contractors, will be rehabilitating the properties in order to preserve them as part of the affordable housing stock in the state of Illinois.

About Star-Holdings, LLC

Headquartered in Rockford, Illinois, Star-Holdings is a recognized leader in the development, management and construction of affordable housing properties. One of the largest affordable housing managers in Illinois and Wisconsin, Star-Holdings owns or manages more than 200 properties in ten states.

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