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Ogden Avenue Supportive Housing

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Ogden Avenue Supportive Housing

New Developer Non-Profit Organization

Ogden Avenue Supportive Housing

DEVELOPER INFO:
Lead Developer: BEDS Plus Care, Inc. (BEDS) has nearly 25 years of experience providing supportive services and scattered site housing to chronically homeless and homeless disabled individuals in West Suburban Cook County. The agency was formed in 1987 to address the growing incidence of homelessness. By 1989, BEDS was operating a rotating overnight shelter seven nights a week at seven sites. By 1999, BEDS started formalized case management services for homeless individuals to increase self-sufficiency and find a long term solution to homelessness. The addition of a daytime support center, operating twice a week, provided the structure to address the multiple and complex needs of homeless individuals.

Co-Developer: The Burton Foundation creates and preserves high-quality affordable housing for families, seniors, and residents with special needs of low and moderate income levels. The Burton Foundation assists families in finding safe, secure, and affordable housing through participation in partnerships and management activities. It is also a philanthropic organization who builds permanent charitable capital through donations, grants, aid, and low-income interest loans to the poor for housing and health needs. The Burton Foundation (TBF), an Illinois based 501c3, currently has ownership in 12 low income housing tax credit developments around the Midwest. Among these 12 projects, four are family projects, including Hershey Manor in Rockford, IL (37 units), Sterling Family Townhomes in Sterling, IL (22 units), Kemper Manor in Rockford, IL (40 units) and Roosevelt Apartments in Decatur, IL (75 units). Their Executive Director, Tracey Manning, has extensive experience relating to the development and operations of a family project.

 

PROJECT INFO:
The project is a three-story permanent affordable housing building that includes a support center operated by BEDS Plus Care, Inc. (BEDS), a nonprofit organization. The building includes twenty studio-units that serve chronically homeless individuals. The first floor of the building houses the BEDS daytime support center and administrative offices, which were previously provided at a local church. With a permanent location, the services offered will now remain consistent, including case management, service connections and access to partner agency representatives and programs. Both the second and third floor include ten units of supportive housing. Each of the 350 square foot studio units have a full bathroom, a living area, kitchen, dining area and closet.

project details

  • Project Site: Ogden Avenue Supportive Housing
  • Lead Developer: BEDS Plus Care, Inc.
  • Co-Developer: The Burton Foundation
  • Project Address: 9601 W Ogden Ave. LaGrange IL
  • Number of Units: 20
  • Property Type: Supportive Housing
  • Closed: May 2017

 

Project Funding Sources:

  • 9% LIHTC Equity
  • State Donation Tax Credits
  • HOME/CDBG
  • FHLB AHP
  • Project-Based Vouchers

 

Unique Project Elements: 

  • BEDS conducted a substantial capital campaign to help fund the project which the Donation Tax Credits further leveraged. The first floor consists of a services center for both resident and non-resident local homeless.

 

Lightengale’s Role:

  • Strategy
    • LIHTC Application
    • Project Budget
  • Financing Execution
    • Project Debt & Equity Coordination
  • Due Diligence Coordination
    • Property Mgmt Documents
    • Closing Owner Sworn Statement
  • Post Closing Services
    • Construction Administration of Draws
    • Equity Installments Coordination
    • LIHTC - Carryover/10% Test
    • LIHTC - 8609 Coordination

 

Photo Credit: Elevation rendering by SHED Studio Architects

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CREATIVE APPROACH.
PROVEN RESULTS.


three
Words from our Partners:

Lightengale (LGG) began serving affordable housing developers in 1999. Over the next 23 years, LGG assisted over 150 affordable housing deals (and one radio station) to come to fruition. We are so pleased that we were able to work with so many wonderful developers, both new and experienced, small and large, to help them provide affordable housing and improve their communities.

Over these years, we learned a lot and navigated the company and our clients’ deals through the Great Recession of 2007-2008 and the Covid Pandemic of 2020-2022. Throughout this time, we have had the privilege of working with some of the finest affordable housing specialists – on our staff, our clients, and in the broader community.
Everyone should have a home they can afford and feel safe in. Ideally, amenities are nearby, and the home is energy efficient. We enjoyed working with so many people who shared our vision of universal affordable housing. While we continue to believe strongly in universal affordable housing, we also believe it is now time to have others lead the way and guide deals through the process. We hope the next generation continues to provide more truly affordable housing for more people.

While we are not taking on any new clients or projects and will be closing our doors once we finish our current deals, we want to let you know how much we have enjoyed working with each and every one of you throughout these years.

All the best to each of you-- Maggy, Larry and Virginia
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