Genesis Housing Development Corporation 3
Loan Category:
Housing
Loan Amount:
$125,000
Loan Type:
Pre-Development
Community Area:
Grand Boulevard
Description:
Genesis Housing Development Corporation (GHDC) requested a predevelopment loan from CCLF to pay for expenses it would incur as it pursued construction financing for its North Washington Park Homes project. The development consists of up to 55 newly constructed homes priced from $165,000 to $230,000, and utilizes conventional financing along with development subsidies from the city's New Homes for Chicago program.
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