Cinnaire Lending recently joined 548 Development and City of Chicago leadership to celebrate the groundbreaking of West Humboldt Park Passive Living, a transformational affordable housing project on Chicago’s West Side. Cinnaire Lending provided $2 million in flexible financing to support this project and another innovative development by 548 Development, a rising Black-owned real estate firm committed to equitable community revitalization. Our financing included a $600,000 enterprise working capital line of credit and $1.4 million in predevelopment funding, helping move these visionary developments from concept to construction.
The West Humboldt Park Passive Living project, located at 3831 W. Chicago Avenue, is a $48 million, 60-unit mixed-use development that will bring high-quality affordable housing to a historically disinvested neighborhood. The four-story building will feature 48 units for households earning at or below 60% of the area median income, with 13 units set aside for individuals with disabilities. Designed to Passive House standards, the project prioritizes sustainability with rooftop solar, EV charging stations, and energy-efficient construction that will reduce utility costs by up to 50%.
As an emerging developer, 548 Development is a powerful example of the next generation of leaders reshaping urban communities with vision and purpose. Cinnaire Lending’s flexible capital—used across multiple projects—was key in helping 548 build momentum and capacity to reach this major milestone.
This groundbreaking marks a cornerstone in Mayor Brandon Johnson’s Build Better Together initiative, which aims to drive equitable investment in underserved neighborhoods. In addition to West Humboldt Park Passive Living, Cinnaire’s financing is also advancing Galleria 89, a 58-unit development in South Chicago with commercial space, rooftop solar, EV charging, and public art.