Financing Closes in Geneva, IL!
Congratulations are in order to The Burton Foundation (TBF); on September 2nd they closed on financing for their newest development, Emma’s Landing. TBF was also awarded this month with funding from Federal Home Loan Bank, Chicago; through their Affordable Housing program. This project will bring much needed housing to residents, and represents an important part of being able to supply quality affordable housing to the surrounding community. Lightengale Group (LGG) submitted the LIHTC and FHLB applications for Emma’s Landing as well as coordinated the due diligence process.
Emma’s Landing is a new construction of 45 affordable townhomes, consisting of 2, 3, and 4 bedrooms with a community building for meetings and outdoor space in a community with extensive amenities. The distribution of units is 15 at 30% AMI, 15 at 50% AMI, and 15 at 80% AMI.
Thank you to all those who were part of this development!
The Burton Foundation
Illinois Housing Development Authority
CitiBank
Hudson Capital
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About Lightengale Group
Lightengale Group (LGG) is an affordable housing real estate financial advisory firm offering services to experienced and non-experienced developers nationally. LGG provides strategic & financial planning for developers by tracking evolving government regulations and funding requirements. With over 100 years combined experience and more than 4,000 units completed, LGG is the industry’s preferred advisory leader.