turnstone

The TURNSTONE is a shore bird whose name comes from its curious habit of using its bill to turn over stones in search of food. The bird’s exceptional determination to use all its resources led to the name Turnstone Development.

Board of Directors

Alicia Rodman McCray
Chairman

Elzie Higginbottom
Treasurer

Linford Coleman

Director

Audrey R. Peeples

Director

Executive Staff

Bill Schneider

Executive Director

Sue Wiemer

Chief Operating Officer

About Turnstone

Creating and preserving affordable housing for our communities.

Turnstone Development Corporation is a not-for-profit 501(c)(3) development corporation incorporated in the State of Illinois. Turnstone Development was created in order to facilitate the creation and preservation of affordable housing, specifically in carrying out the U.S. Department of Housing and Urban Development’s (HUD) Housing Choice Vouchers (HCV) Program and assisting with mixed-finance and low-income housing tax credit developments. Turnstone Development regularly provides support to Public Housing Authorities (PHA’s) in their effort to create and preserve affordable housing opportunities for low-income families primarily in Illinois and throughout the United States.

Turnstone Development has developed over 1,300 affordable housing units and leveraged over $185 million in private and public investment capital sources, such as low-income housing tax credit (LIHTC) equity from the Illinois Housing Development Authority (IHDA), County HOME funds, Public Housing Authority capital funds (PHA), American Reinvestment and Recovery Act Stimulus funds (ARRA), traditional banking and lending institutions’ loans, and grant assistance from such organizations as the Federal Home Loan Bank (FHLB) and the Department of Commerce and Economic Opportunity (DCEO), all for the purpose of rehabbing and constructing affordable housing development sites throughout Suburban Cook County, Illinois and the United States.

Turnstone is staffed by a group of dedicated and capable professionals with substantial experience in development, construction management, planning, and financing. Additionally, Turnstone has strategic partnership arrangements with various professional marketing, property management, architectural, accounting, legal, and development organizations to help accomplish its mission.

Turnstone continues to foster partnerships with community service providers to ensure residents have access to appropriate programs, services and resources. Such collaborative efforts help to improve the quality of life for its residents and migrate low income families to self-sufficiency.