The Illinois Housing Development Authority, in tandem with the Local Initiatives Support Corporation, has thrown open the doors for applications to their 2026 Next Gen Capacity Building Initiative, a move that is set to grow the pool of skilled housing developers in the state. The initiative, which focuses on professionals with an inkling of real estate basics, offers for-profit and nonprofit developers in-depth technical training and access to crucial financial resources aimed at fostering affordable housing in varying community landscapes in Illinois.
In a statement, Kristin Faust, Executive Director of IHDA, communicated the essence of Next Gen: "Next Gen is about opening doors for developers who are ready to shape the future of affordable housing in Illinois." Faust also emphasized the importance of bringing "safe, stable, and affordable housing" to life, and encouraged developers with ambitions to mold Illinois’ housing future to apply for the coming year’s program.
With a clear stance on inclusivity and geographical diversity, Next Gen ensures that applicants from rural, suburban, and urban precincts are all part of the beneficiary mix. The program's curriculum is tailored for professionals with a rudimentary understanding of real estate and those who aspire to delve into the LIHTC, or Low-Income Housing Tax Credit industry. The move is seen as a critical step in Illinois' wider goal of improving opportunities within the affordable housing development sector.
Spotlighting the program’s impact, Meghan Harte, Senior Executive Director of LISC Illinois, proclaimed her organization's commitment to empowering emerging developers; "LISC is proud to partner with IHDA to bring another year of Next Gen to Illinois, because affordable housing is at the heart of strong, healthy communities across our state." Next Gen has been credited for its effectiveness in equipping developers with the practical know-how required to transform their local communities, by both Harte and satisfied program alumni like Kelli Roberts, who touted the program's merits in enabling her to present her first LIHTC proposal.
For those with an interest in application or seeking to learn more about the Next Gen initiative, LISC is hosting two virtual information sessions, set for November 12 and 19. Details and registration links can be found on their website. Applications are open until 11:59 p.m. (CST) on December 4, 2025. The specialized training involved spans 160 hours of curriculum covering a range of subjects, which includes formulating a development group, understanding financing and deal structuring, delving into property management best practices as well as navigating IHDA application processes.
Since its inception in 2024, the program has already seen its first group of alumni make waves within the affordable housing scene in Illinois, with eight development applications submitted, underscoring the tangible results of the Next Gen initiative. Aspiring developers looking to make a real difference in communities throughout Illinois now have the opportunity to follow this path by harnessing the resources provided by this unique program.
