Applications Open for Next Generation of Affordable Housing Developers in Illinois (Chicago, IL) – The Illinois Housing Development Authority (IHDA) and the Local Initiatives Support Corporation (LISC) have opened applications for the 2026 class of the Next Gen Capacity Building Initiative, a statewide program designed to train and empower emerging affordable housing developers.
The initiative, known as Next Gen, offers both for-profit and nonprofit developers specialized training in the Low-Income Housing Tax Credit (LIHTC) program — a key federal tool used to finance affordable housing projects. Participants gain technical expertise, financial guidance, and early-stage support to help bring new housing developments to life in communities across Illinois.
“Next Gen is about opening doors for developers who are ready to shape the future of affordable housing in Illinois,” said IHDA Executive Director Kristin Faust. “By expanding access to technical training and early-stage capital, IHDA and LISC are making sure that more voices and more communities can help meet our evolving housing needs.”
The program emphasizes geographic diversity, encouraging participation from developers in rural, suburban, and urban areas alike. Applicants should have some experience in real estate development or finance and a working understanding of the fundamentals of housing development.
LISC Illinois Senior Executive Director Meghan Harte said the program plays a critical role in strengthening communities statewide. “Affordable housing is at the heart of strong, healthy communities across our state,” Harte said. “Next Gen equips emerging developers from all backgrounds with the skills, relationships, and resources they need to turn their vision for community transformation into reality.”
Graduates of the program have already begun making an impact. Kelli Roberts, a Fairview Heights native and 2024 Next Gen alum, credited the initiative with giving her the knowledge and confidence to launch her first LIHTC proposal. “The mentorship, networking, and technical support were invaluable,” Roberts said. “Next Gen prepared me to become the affordable housing developer I was meant to be.”
Applications for the 2026 cohort are open through December 4, 2025, at 11:59 p.m. CST. Interested developers can learn more by attending one of two virtual information sessions hosted by LISC:
Wednesday, November 12 at 12 p.m. CST
Wednesday, November 19 at 5:30 p.m. CST
The 2026 program will launch in spring 2026, featuring 160 hours of specialized instruction led by LISC. Topics include forming and managing development teams, financing and deal structuring, navigating the IHDA application process, and property management best practices.
Graduates moving forward with projects will also be eligible to apply for pre-development loans funded by IHDA and administered by LISC to help cover early-stage costs such as planning, design, and site control — barriers that often prevent smaller or emerging developers from advancing their projects.
Since its launch in 2024, Next Gen has already produced measurable results, with alumni submitting eight affordable housing development applications across Illinois.
For more information or to apply, visit www.ihda.org
or lisc.org/Chicago
Applications Open for Next Generation of Affordable Housing Developers in Illinois
