14 Emerging Affordable Housing Developers Complete Illinois Next Gen Program
The Illinois Housing Development Authority (IHDA) and the Local Initiatives Support Corporation (LISC) announced in Chicago on November 12 that the third cohort of 14 participants has completed the Next Generation Capacity Building Initiative (Next Gen), an award-winning program designed to strengthen the pipeline of emerging affordable housing developers across Illinois.
Governor JB Pritzker said a strong, affordable Illinois requires investing in the people who will build it, and that the Next Gen Initiative is empowering a diverse pipeline of developers.
IHDA said the 14 participants began last March and completed a rigorous 160-hour curriculum on affordable housing development, including specialized training, one-on-one technical assistance and opportunities to connect with experienced industry professionals, concluding with a capstone assignment in which cohorts developed potential affordable housing proposals reviewed by a panel of housing experts. Launched in 2024, Next Gen provides foundational skills in building a development team, deal structuring, affordable housing finance programs and property management, and alumni may apply for a pre-development loan to help pay for early costs such as securing site control and designing a project.
IHDA said seven Next Gen alumni to date have received Low-Income Housing Tax Credit (LIHTC) awards from IHDA and the City of Chicago that will deliver 342 homes, including 323 affordable units, across Illinois. IHDA Executive Director Kristin Faust said participants gain the training, technical assistance and connections needed to turn their vision into high-quality affordable housing. Illinois needs to build more than 225,000 units over five years to meet growing demand.
In October 2026, the National Council of State Housing Agencies recognized Next Gen with an Annual Award for Program Excellence.
(Source: Illinois Housing Development Authority)
Source: Illinois Housing Development Authority
Published by GSM · USA (original Chinese edition)
Photo: 图：Chicago 市区天际线与 Chicago 河。照片经 Wikimedia Commons，CC BY 2.0。 / Photo: Downtown Chicago skyline and the Chicago River. Via Wikimedia Commons, CC BY 2.0.
