Warren Buffett Investing in Local Homes

Buffett's company is a main investor in a 125-unit senior housing center in south suburban Lansing

Billionaire Warren Buffett is pouring money into Illinois homes.

Buffett's company, Berkshire Hathaway Inc., is a main investor in St. Anthony Supportive Living Facility, a 125-unit senior housing center in south suburban Lansing, according to the Chicago Sun-Times.

The nearly $29 million project, to be located at Lorenz Avenue and Spring Lake Drive, will house lower-income residents.

The Sun-Times reports the Illinois Finance Authority this week agreed to issue about $18 million in tax-exempt bonds to support the project.

Affordable Housing Partners, a subsidiary of Buffett's Berkshire, will invest $5.4 million in equity, according to the paper.

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