8/31/09
The Wrightwood Senior Apartments project, a six-story, 85-unit new construction mixed income building for seniors 62 and older, closed on financing on August 31, 2009. The project is located at 2815 W. 79th Street, in the Wrightwood neighborhood, and is being developed through a partnership of 3 Diamond Development and NHS Redevelopment Corporation. Lighten-Gale Group helped the developer structure and coordinate the financing, which is a combination of sources including a construction loan from JPMorgan Chase, a permanent loan from Enterprise Mortgage Investments, a HOME Loan from the City of Chicago, a TIF grant from the City of Chicago, a grant from the Chicago Low Income Housing Trust Fund, a grant from the State of Illinois Department of Commerce and Economic Opportunity for energy efficiency, and 9% LIHTCs allocated by the Illinois Housing Development Authority and syndicated by Raymond James Tax Credit Funds, Inc.