On a snowy Saturday morning in February, an elated group of community partners, elected officials and residents gathered in Logan Square to celebrate the long-awaited opening of a new affordable housing development. Encuentro Square features two vibrant, welcoming buildings located at 3759 W. Cortland and 1844 N. Ridgeway, positioned along the western edge of the Bloomingdale (606) Trail.
The event was well attended, featuring speakers highlighting how affordable housing, collaboration, and community investment can drive economic opportunity, support mental health, enhance safety, and uplift hardworking individuals and families.
Evergreen Real Estate Group (EREG) developed the property in a joint venture with Latin United Community Housing Association (LUCHA). The developers each sought out predevelopment financing to complete Phase 1 of the project.
To support early-stage planning, the Chicago Community Loan Fund provided EREG with a $1.5 million predevelopment loan, covering costs for architectural and engineering design, market study consultants, appraisal reports, and other predevelopment costs.
Other financing for the project consists of Low-Income Housing Tax Credits (LIHTC), HOME Funds, Donation Tax Credits, Illinois Affordable Housing Tax Credits (IAHTC), TIF, and construction financing. The National Equity Fund (NEF) supported the project with an equity investment to execute the LIHTC portion.
The $67.5 million development is located at Logan Square’s southwestern border with Hermosa and Humboldt Park. The site was previously home to the former Magid Glove Factory and in 2014 was acquired by the Trust for Public Land while developing the 606 Trail. Encuentro Square is part of a broader redevelopment effort in partnership with the Chicago Department of Housing (DOH), the Department of Planning and Development (DPD), and the Chicago Housing Authority (CHA).
Encuentro Square is strategically positioned near key community anchors, including the McCormick YMCA, several neighborhood schools and public transportation, fostering a strong sense of connection and accessibility. The development responds to the urgent need for affordable housing in a rapidly gentrifying area, offering stability and opportunity for individuals and families.
The development offers two different rental programs: the Project-Based Voucher Program, administered in partnership with the CHA, and an Affordable Housing Program, which provides income-restricted units without rental subsidies. All units are affordable, serving households earning at or below 60% of the area median income (AMI). Amenities include a children’s playroom, teaching kitchen, private courtyard, lounges, laundry rooms on each floor and ample bike storage. Encuentro Square’s final phase is set to include a public park and a third affordable housing building.
Beyond housing, Encuentro Square is grounded in a commitment to wellness and healing, guided by the principles of trauma-informed design. Canopy / architecture + design thoughtfully integrated these principles into the development. Residents also have access to supportive services, including home-based Early Head Start through a partnership with the Children’s Place Association, and financial counseling to help build long-term stability. “Chicago Community Loan Fund is proud to support this partnership between two unique developers, LUCHA and Evergreen Development, which continues to bear fruit with this intentional development for the community,” stated Aaron Akers, Senior Asset Manager Chicago Community Loan Fund.
The name “Encuentro,” meaning encounter or meeting in Spanish, reflects the spirit of connection at the heart of the development. The monarch butterfly, a symbol of transformation and resilience, was chosen to represent this vision. From the vibrant mural and building colors to the butterfly magnets shared at the ribbon-cutting, the imagery celebrates change, hope, and the interconnectedness of all who call Encuentro Square home.
Congresswoman Delia Ramirez spoke candidly about recent criticisms aimed at the U.S. Department of Housing and Urban Development (HUD) and other agencies, all in the name of “efficiency.” She praised the work of LUCHA and co-developer, EREG. “This is the embodiment of our imagination and what our community deserves. Every community in the city of Chicago, state of Illinois and in this country deserves a place like Encuentro,” said Congresswoman Ramirez.