Tierra Linda Closing

Latin United Community Housing Association (LUCHA) closed on the financing for their new project, Tierra Linda, with the help of Lightengale Group. Tierra Linda is a forty-five (45) unit new construction project that will create rental apartment for low-income families in the 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-falts and a mix of 1-bedroom,2-bedroom, and 3-bedroom units. All units will be affordable to households at 50% and 60% of the area median income and the Chicago Housing Authority will provide rental subsidy for eleven of the units.

The City of Chicago donated six of the twelve vacant lots needed for the project, provided a $1 million allocation of Low Income Housing Tax Credits, a $5 million HOME loan and a $450,000 allocation of donations tax credits. Other financing partners include the National Equity Fund, IFF and U.S. Bancorp Community Development Corporation.