This story is part of a series highlighting how the NeighborWorks Capital Equity Fund is helping NeighborWorks organizations expand and preserve affordable housing across the country. In this installment, we feature Hispanic Housing Development Corporation and its work to preserve Logan Vistas Apartments as a long-term anchor of affordability in Chicago’s Logan Square neighborhood.
For more than three decades, Hispanic Housing Development Corporation (HHDC) has helped keep Logan Vistas Apartments affordable for seniors and extremely low-income residents in Chicago’s Logan Square neighborhood. Now HHDC is preparing to undertake a comprehensive rehabilitation that will preserve the historic building, improve residents’ quality of life, and ensure that longtime community members can continue to age in place.
The project will address critical structural needs while modernizing the building with improvements that support residents’ health, comfort, and quality of life.
But to HHDC, the preservation of Logan Vistas means much more than maintaining a building. It will also continue the legacy of an iconic building in Logan Square, a traditionally Latino neighborhood that has seen rapid change in recent years.
Built in 1927 as an apartment hotel, Logan Vistas is a Gothic and Spanish Revival-style building overlooking Logan Square Park and a contributing structure to the Logan Square Boulevards Historic District. Since 1991, it has served as affordable housing owned and managed by HHDC.
As new investment and higher housing costs have reshaped Logan Square in recent years, the 49-unit Logan Vistas Apartments development has remained a place where longtime residents can continue living close to family, transit, neighborhood businesses, and the community they’ve helped build.
The building has served as a strong anchor of affordability in Logan Square, says Kenneth Figueroa, Associate Vice President of Acquisitions and Asset Management at HHDC.
“Folks are looking for an affordable, sustainable, safe place to live,” he says. “Logan Vistas has served hundreds of residents since 1991.”
The rehabilitation project is deeply personal to Figueroa. Growing up in Logan Square, he always believed the property was a “fancy” apartment building. Today, he is helping to preserve one of the few remaining affordable housing options for the very community members he grew up alongside. He says Logan Vistas is the type of place his grandparents would live if they weren’t supported by family.
“For longstanding seniors that have been in the neighborhood and seen it changing—they get to stay,” Figueroa says. “They get to not only stay but benefit from the preservation of this project. As the location has changed, they get to stay and benefit from all of the public investment in the area. And they get to stay closer to their families instead of having to move somewhere else.”
That philosophy is central to HHDC’s mission.
The organization has worked in Chicago’s Latino neighborhoods since 1975, creating affordable housing and economic opportunities through real estate development, preservation, property management, and commercial development. Over the past 50 years, HHDC has built or preserved 4,633 homes across four states and Puerto Rico, mostly in the Chicago area.
To HHDC, preservation means more than maintaining buildings. It means making sure residents can continue to thrive in their communities.
With affordable rent, easy transit access, and a vibrant surrounding neighborhood, Logan Vistas provides exactly that to its residents.
“What I really enjoy about living here is the building’s location,” says resident Ello. “It’s close to everything. There are a lot of restaurants, coffee shops, and a farmer’s market on the weekends.”
Long-time resident Maria agrees.
“If I go outside, I can walk to most things I need, or I can take the bus or subway. They are right outside.”
Inside the apartment community, residents also have access to on-site activities and services. Longtime in-house resident services coordinator Carmen Rivera has spent nearly two decades connecting residents with public benefits, healthcare resources, translation assistance, and social programming, helping ensure residents have the support they need to age safely and independently.
The upcoming rehabilitation will enhance and extend Logan Vistas’ ability to support residents for years to come. In addition to structural updates, the project includes renovated apartments with energy-efficient air conditioning, masonry repairs, and a new lobby. It also includes additions that will improve residents’ health and mobility, including a fitness room and a second elevator for the seven-story building. A new activity room and kitchen space will also enhance programming with local community partners.
To help carry out that vision, HHDC is using an investment from the NeighborWorks Capital Equity Fund. Launched in partnership with National Equity Fund (NEF), the fund was created exclusively for NeighborWorks organizations to access equitable and transparent Low-Income Housing Tax Credit (LIHTC) financing terms, helping create and preserve more affordable housing across the country.
HHDC was one of seven NeighborWorks organizations included in the Fund’s inaugural $110.4 million financing round, which closed in December 2025.
For Figueroa, participating in the Fund was a “no-brainer.” The competitive pricing, favorable terms, and payment structure were attractive and will save HHDC hundreds of thousands of dollars—resources that can instead be invested directly into preserving Logan Vistas. Just as importantly, both NeighborWorks Capital and NEF were trusted partners that understood HHDC’s commitment to preserving affordable housing for the long term.
When construction is complete in 2028, the Logan Vistas renovation will not only have preserved a beautiful and historically significant building in the neighborhood. It will also preserve an important home and way of life for longtime community members for years to come. Residents will have safer homes, expanded services, improved accessibility, and the peace of mind that comes from knowing they can continue aging in the neighborhood they know best.
