The City Finance Committee approved borrowing $16M for an LGBTQ-friendly affordable housing project in Logan Square, an important step toward making the development a reality.

The development is named after John Pennycuff and Robert Castillo, two prominent activists in Logan Square's LGBTQ and affordable housing communities. John Pennycuff died in 2012, but his husband, Robert Castillo, continues to fight for affordable housing in rampantly gentrifying Logan Square. The development calls for 88 apartments, split between affordable housing and CHA allotments. It has the support of community groups and Ald. Joe Moreno (1st).

The project is expected to cost $23M, according to DNAInfo. Moreno says $4M in TIF funds and CHA capital improvement funds will be allocated toward the project. With the Finance Committee's approval, the only other obstacle to clear is an OK from the full City Council tomorrow, which it most certainly will provide, given the Finance Committee's decision. [DNA]