The proposal is consistent with the City of Naperville’s goal to ensure housing options are diverse, responsive to community needs, and accessible. By developing and operating The Residences at Naper & Plank as a rental community, Lincoln is providing a path for residents to enjoy a single-family residence that avoids the financial barriers of ownership typically associated with such homes, such as a large downpayment, attaining mortgage underwriting standards, maintenance costs, and ongoing property taxes. Naperville is a sought-after community, and increasing the availability of single-family rentals will provide additional flexibility and options in the local housing market.
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