Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Cinnaire Receives $6M in Awards from FHLBank Chicago
Cinnaire has been awarded $6 million in Affordable Housing Program (AHP) subsidies by the FHLBank Chicago to support three housing projects in Illinois and Wisconsin.
These awards will help finance the renovation, adaptive reuse, and new construction of 233 affordable housing units. FHLBank Chicago granted a total of $47 million in AHP awards this year to fund 35 housing projects across Illinois and Wisconsin. These projects will provide more than 1,300 housing units for seniors, veterans, working families, and other vulnerable populations.
“For nearly a decade, Cinnaire has partnered with FHLBank Chicago to deliver impactful solutions to meet the housing needs of underserved populations,” said Elisabeth Rask, Cinnaire’s Director of CDFI Funding.
“Access to affordable housing remains a top priority across Illinois and Wisconsin communities, especially as residents continue to contend with high interest rates, a deficit of housing supply, and increased construction costs,’ said Michael Ericson, President and CEO, FHLBank Chicago.
