Mayor Daley was at the dedication ceremony. He emphasized how important it is for people to stay in the neighborhoods where they've spent most of their lives.
"This has truly been a development that you can be proud of because the commitment that you have made individually and collectively in a professional way on behalf of the seniors," said Mayor Daley.
The new development provides 107 units of housing.
Chicago's five-year senior housing plan- which was announced in 2006- will make 4,000 new units of affordable senior housing available by the year 2010.