01/09/08
The Restoration Apartments development, 22 units in 8 different buildings along Douglas Boulevard in Chicago's North Lawndale community, closed on its financing at the end of December 2007. Construction is now underway. Lighten-Gale Group helped Safeway Construction, the developer, structure and coordinate the financing, which is a combination of sources including a first mortgage from Harris NA and an Affordable Housing Grant from the Federal Home Loan Bank of Chicago. This project is a part of the larger Lawndale Restoration project, which includes the rehabilitation of over 1,000 low-income housing units in the North Lawndale neighborhood. Construction is scheduled to be completed by summer 2009.