The Edward Hines JR. VA Hospital Complex contains a variety of historically significant buildings. Most recently, building #14 was redeveloped into 28 low-income apartments for homeless veterans. The financing included Federal HTCs as well as competitive State of IL HTCs, both of which were monetized.
Total Development Costs:
~$6 million
Project Sources:
20% Federal Historic Tax Credits, 25% Competitive State HTCs, Tax Credit Bridge Loan, Deferred Developer Fee, Construction Loan, Acquisition Loan, Permanent IHDA Loan
Example Projects
