Four Lightengale Group Clients Win LIHTC Approval in Most Recent Round of Announcements from Illinois Housing Development Authority

Lightengale Group led and coordinated LIHTC application and approval processes on behalf of its developer clients for Midtown Crossing Apartments (Des Plaines, IL), Wind Mill Manor (Batavia, IL), Prairie Meadows II (Hoopeston, IL), and Lincoln Park Villas (O’Fallon, IL). Totaling over 4.17 million in LIHTC allocations for 215 units, this marks the latest LIHTC successes for Lightengale clients.

Lightengale is proud to announce that LGG clients received 4 out of the 11 IHDA 2016 Round 1 Low Income Housing Tax Credit Awards! Congratulations to developers Over the Rainbow, Iceberg Development, Illinois Community Action Development Corporation (ICADC), and RCH Development on this terrific accomplishment.

Midtown Crossing Apartments, Over the Rainbow’s (OTR) second tax credit development, will be an affordable 33 unit new construction building in Des Plaines. There will be 7 units at 30% AMI, including 5 State Referral Network units, 10 units at 50% AMI, and 16 units at 60% AMI. The building will be 100% mobility accessible, enabling mobility impaired adults to have access to housing in which they can direct their own care and live independently in a residential community. Both the Housing Authority of Cook County and the Regional Housing Initiative supported the development with project-based vouchers.

Wind Mill Manor will be a new construction independent living and mixed income community of 80 units for persons 55 years & older.  Located in amenity-rich Batavia, the development is co-developed by Iceberg Development, CUBIT Development and The Burton Foundation, is convenient to shopping, restaurants and healthcare facilities.  The development’s 60 one-bedroom & 20 two-bedroom units will be affordable to seniors earning between 30% & 60% AMI and 10% of the units will be unrestricted.  12 units will be occupied by households from the State Referral Network, and 25 residents will benefit from vouchers provided by the Elgin Housing Authority.  Veteran residents will receive supportive services through Featherfist who will help veteran’s access healthcare and mental health services.

The Illinois Community Action Development Corporation (ICADC) received funding to develop Prairie Meadows Phase II a 30 unit affordable single family home development in Hoopeston, Illinois.  The development will consist of 2 and 3 bedroom units affordable to families at 50% AMI and 60% AMI and compliments Prairie Meadows Phase I developed in 2010 with 25 affordable single family homes. Danville Housing Authority supported the development with project-based vouchers and the project sets aside units through the State Referral Network as well.  The project was a key component in Hoopeston’s revitalization plans.

Lincoln Park Villas, co-developed by RCH Development and Regional Housing Development and constructed by Double Diamond LLC, is a planned new construction affordable property of 72 units for seniors aged 55 and older located in O’Fallon.  The development will include a community building and 13 one story properties offering 18 one- and 54 two-bedroom units.  Affordability will extend to individuals between 30% AMI and 60% AMI. Many units received rental subsidy and the project also provides State Referral Network units.  The community building will contain an on-site property manager’s office, community kitchen and meeting space, and fitness equipment.  St. Clair County Housing Authority supported the development with project-based vouchers.
The four new developments will be great additions to their communities. Lightengale Group is pleased to have helped by assisting the developers with the strategy, financial planning and application coordination needed to receive the LIHTC award.