The Chicago Lighthouse Residences Would Create Units of Affordable Rental Housing for Low- to Moderate-Income Earners and Those with Special Needs in the 27th Ward
Mayor Lori E. Lightfoot introduced two ordinances to City Council today that would create the Chicago Lighthouse Residences, a multi-family development with 76-units of affordable rental housing targeted to low- and moderate-income families and those with special needs, including the blind and visually impaired. Brinshore Development has partnered with The Chicago Lighthouse, a worldrenowned social service organization serving the blind, visually impaired, disabled, and veteran populations for the new building that will be located adjacent to the Chicago Lighthouse headquarters in the 27th Ward.
One ordinance would allocate up to $1,500,000 in 9% Low-Income Housing Tax Credits (LITHC) and issue up to $1,017,643 in DOH Multi-Family loans for the development.
The second ordinance would approve the reservation of donation tax credits (Illinois Affordable Housing Tax Credits - IAHTC) for $2,500,000; issue up to $13,000,000 in tax-exempt bonds, and issue up to $6,438,000 in Department of Housing (DOH) Multi-Family loans for development.
Both ordinances designate Chicago Lighthouse Residences, LLC or one of its affiliates, or an entity acceptable to DOH Commissioner, as the developer for the Chicago Lighthouse Residences. The Chicago Lighthouse Residents will be sustainable, the units affordable for those at 30%, 60%, and 80% of the area median income (AMI), and will also feature 1,500 square feet of retail space, and 59 parking spaces - 21 outdoor spaces and 38 covered spaces on the 2nd and 3rd floors of the building.
The Chicago Lighthouse Residences will be conveniently located near the CTA Polk Pink line station, which is especially critical for the building’s blind residents who rely on buses and trains for access to jobs and resources. Ten units will be marketed towards veterans and 40 units will include accessible features for people who are blind or visually impaired.
Although the project will be marketed to both veteran and special needs populations, all units will be available to income-eligible tenants. All 19 one- and two-bedroom units for those individuals earning 30% AMI will be supported by Chicago Housing Authority (CHA) subsidies.
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