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Tierra Linda

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Tierra Linda

Experienced Developer Non-Profit Organization

Tierra Linda
DEVELOPER INFO:
LUCHA advances housing as a human right by empowering communities – particularly the Latino and Spanish-speaking populations; through advocacy, education and affordable development and comprehensive housing services. LUCHA aspires to build empowered, thriving communities and to further access to fair housing. Founded in 1982, LUCHA is both a HUD approved housing counseling agency, as well as a Community Housing Development Organization (CHoDO). Anchored in Humboldt Park, LUCHA was born out of the Puerto Rican community as it organized for equitable housing. As part of its central commitment to racial equity via affordable housing creation and preservation, LUCHA has built and currently manages 198 units of affordable rental housing divided across four developments spanning Humboldt Park, Logan Square, and West Town.

 

PROJECT INFO:
Tierra Linda is a new construction project that created 45 rental apartment for low-income families in Humboldt Park and Logan Square Communities. The goal of the project is to create high quality and affordable housing for the people who are currently being displaced by increased rents. The project includes twelve new construction buildings with a mix of 3-flats and 6-flats with a mix of 1-bedroom, 2-bedroom, and 3-bedroom units. All units are affordable to households at 50% and 60% of the area median income and the Chicago Housing Authority provides rental subsidy for eleven of the units. The City of Chicago donated six of the twelve vacant lots needed for the project; provided a one million dollar allocation of Low Income Housing Tax Credits; and provided a one million dollar HOME loan. Other financing partners include the National Equity Fund, IFF and U.S. Bancorp Community Development Corporation.

project details

  • Project Site: Tierra Linda
  • Developer: LUCHA
  • Project Address: Scattered Site throughout Humboldt Park & Logan Square neighborhoods, Chicago, IL
  • Number of Units: 45
  • Property Type: Family Housing and Scattered Site
  • Closed: June 2017

 

Project Funding Sources

  • LIHTC Tax Equity 9%
  • Energy Grant
  • State Donation Credits
  • Amortizing Private Debt
  • HOME/CDBG
  • Project Based Vouchers
  • Contributions/Grants

 

Unique Elements

  • One of the 6 flats is a passive house, meeting unique energy standards.

 

Lightengale’s Role

  • Strategy
    • Project Budget
    • Project Based Vouchers/RAD
  • Financing Execution
    • Project Debt & Equity Coordination
    • Other Credits/Loan Funds

 

Photo Credit

 

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