PAST PROJECTS
At Lightengale Group, I successfully led partnerships on more than 18 developments, leading to the creation/preservation of more than 1,500 units with a total development cost of $480M.
Clients included:
- New and experienced developers
- Non-profit and for-profit organizations
- Public housing authority
Sample projects included:
New developer/Non-profit Cottage Hill Development, now called North Arrow Partners, partnered with Trinity Services, Inc., a non-profit organization, founded in 1950, that primarily serves disabled individuals and families for the development in Sandwich, IL. This 28-unit family development was financed with 9% LIHTC equity, private first mortgage and FHLB AHP. Closed in 2016.
Experienced Developer / Non-profit Turnstone Development Corp was the developer of these two senior housing properties. Phase I has 71 units while Phase II has 50 units. Financed with 9% LIHTC equity, a first mortgage, funding from IHDA and Cook County, and an energy grant, with rental assistance from the County. Closings in 2015 and 2018
Experienced Developer / Non-profit Located near downtown Des Plaines, Midtown Crossing is a 33-unit development with fully accessible units and a priority for those who need the accessible features in the units. Developed by Over The Rainbow supports its residents to maintain their independence. Financed with 9% LIHTC equity, State Donation Tax Credits, HOME, a first mortgage, FHLP-AHP, and project based vouchers from the County.
Experienced Developer / Non-profit A Safe Haven Foundation partnered West Suburban Neighborhood Preservation Agency on this 35-unit, new construction, family development with new 2- and 4-flats on vacant, infill lots in Melrose Park. This development is geared toward veterans and their families and consists of two-, three-, and four-bedroom units. Financed with 9% LIHTC equity, State Donation Credits, HOME, FHLB-AHP and a first mortgage. Closed in 2016.
Experienced Developer / For Profit In this mixed-use building across the street from Loyola, Iceberg Development (residential) partnered with Three Corners Development (retail), as well as LGG and Cubit Development Group. Replacing a CHA parking lot, the building has 111 units (65 affordable) and ground floor retail (Target), CHA replacement parking and, a new CHA community center. Financed with TE Bonds/4% LIHTC; PH Capital Funds; IL Trust Fund; City HOME; State Donation Tax Credits, RAD. 2016.
Experienced Developer / Non-profit In 1995, LUCHA completed the first new SRO building built in Chicago in over 50 years. After 20 years, the building needed extensive rehabilitation, which created 65 units with private bathrooms (from 68 with shared bathrooms), new building systems, and upgraded and expanded common space. Financed by TE bonds/4% LIHTC, HOME and TIF from the City of Chicago; IHDA Trust Fund, and project-based vouchers from CHA, as well as assistance from CLIHTF. Closed in 2020.
New developer / Non-profit A 20-unit Permanent Supportive Housing development in Chicago for formerly homeless individuals. Financed by IHDA, the City and FHLB, with rental assistance from CHA. Social Services are in an adjacent building on the site. Closed in 2018.
Experienced Developer / Non-profit This 16-unit, Permanent Supportive Housing development completes a campus of three buildings owned by Over The Rainbow in Matteson and serves individuals with disabilities. Financed with IHDA Trust Fund, NAHTF, Cook County HOME, and a Com Ed Grant. Closed in 2021.
Experienced For-Profit Developer/Housing Authority The Eatonton (GA) Housing Authority partnered with Bear Development for the rehabilitation of 114 units of senior and family housing in 48 units to make them more visually appealing and to make them viable for many years to come. The property underwent a RAD conversion in 2014. Financed with TE Bond/4% LIHTC, Georgia State Tax Credits, FHLB AHP, Seller Financing, RAD rental assistance. Closed in 2018.