A Legacy of Affordable Rental Housing Development
LUCHA’s Building Development Program designs, builds, rehabs, and manages affordable rental housing property developments for low-income residents at 50% or less of Area Median Income within Chicago’s Humboldt Park, Logan Square and West Town communities. LUCHA’s work in this area reflects findings from a number of housing leaders. For example, a recent study from the DePaul Real Estate Center found a loss of two affordable rental units for every new unit built in Chicago. Upwards of 49% of Cook County households pay 30% or more of their income in housing while the existing supply of affordable housing meets less than 50% of overall demand. In addition, the Chicago Housing Authority has reduced the total public housing stock to only 25,000 units in the last decade. Thousands of families have been displaced or relocated as a result, and by 2020, an estimated 185,000 families will be searching for affordable rental housing in Chicago.
To this end, LUCHA built and currently manages over 150 units of affordable rental housing divided across four developments:
- Humboldt Park Residence (HPR) – a 68-unit SRO facility with semi-private bathrooms
- Borinquen Bella- a 47-unit scattered-site development of one-, two-, and three-bedroom units
- Madres Unidas- a 36-unit scattered-site development of two- and three-bedroom units
- Tierra Linda – a 45-unit, scattered-site, affordable housing development which is currently under construction, built to green standards and enriched by a Community Health Action Plan formed in partnership with Enterprise Community Partners. Construction is on schedule to be completed in fall of 2018, at which point LUCHA will own and operate 196 units of affordable housing.