Anthony Place, Yorkville

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Anthony Place, Yorkville

Experienced Developers For-Profit Organizations

Anthony Place, Yorkville
GC Housing Development LLC (GCHD) is a fourth generation, Chicago-based developer of affordable housing. With a focus on affordable housing financed through the Low Income Housing Tax Credit (LIHTC) program, GCHD develops high-quality, affordable, independent living residences for those over the age of 55. Our mission is to develop quality affordable housing that provides the largest units with the most unit and common amenities at the lowest rent. In this approach, our developments remain viable and marketable, and avoid competition throughout the compliance period.
GCHD’s co-founders have developed over 700 units of affordable housing units across the state of Illinois. GCHD, through a partnership with, Crane Construction, LLC, provides both development and construction services from start to finish for all of our projects. By retaining control over the entire construction process, including the construction and lease-up phase, GCHD is uniquely suited in the LIHTC community.

Project Funding Sources

  • LIHTC Tax Equity
  • Deferred Developer Fee
  • First Mortgage
  • Construction Loan
Lightengale’s Role
Some of the specific LGG tasks completed include:

  • Project Financing Coordination
    • LIHTC Application
    • Energy Grant Application
    • Other Credits/Loan Funds
  • Project Budgets
  • Property Mgmt. Docs Coordination
  • Due Diligence
  • Insurance
  • Owner Sworn Statements
  • LIHTC – Carryover/10% Test
  • LIHTC – 8609

project info

Anthony Place Yorkville will be comprised of 50 units of affordable senior housing plus one live-in manager’s unit: 33 one-bedroom and 17 two-bedroom units. Ten (10) units will be for those making 30% or below AMI (area median income). Eight (8) of those ten (10) units will serve low-income seniors with disabilities, those experiencing homelessness, or at risk of homelessness who are referred to the development via the Statewide Referral Network (SRN). Five (5) units will be for those making 50% or below AMI. The remaining 35 units will serve low-income seniors with incomes 60% or below AMI.

The United City of Yorkville has also established a Rental Assistance Fund for three (3) units where the City will pay the difference between 30% of the resident’s annual income and the annual established rent and any tenant-paid utilities for the residential unit.

project details

  • Developer Name: GC Housing Development
  • Project Location: 1050 Freemont St. Yorkville IL, 60560
  • Number of Units: 50
  • Property Type: Senior Housing
  • Closed: June 20th, 2017