Over the past years the city and the nation have discovered that the ‘wealth gap’ is substantially based on the lack of home ownership opportunities available to Black families – a reality that can easily be seen on Chicago’s west and southsides where the lack of local owners has contributed to the plethora of vacant buildings and lots that plague some neighborhoods.
To remedy both problems, CNI has joined in an innovative partnership with the Lawndale Christian Development Corporation, United Power for Action (which in turn is composed of more than 100 community and religious groups), that will turn 1,000 vacant lots into new affordable housing in North Lawndale and other West Side neighborhoods.
In the fall of 2021, the City of Chicago jump-started development by approving the sale of 250 vacant lots to the campaign for $1 each and providing TIF to remediate the sites. In addition to the City’s contribution, investments from JPMorgan Chase, the Steans Family Foundation and the State of IL will support the project and help with subsidies for homebuyers.
The first phase of the project will begin by developing 250 homes in North Lawndale, a community still ravaged more than 50 years after the unrest that followed the assassination of Dr. Martin Luther King Jr.
The homes are expected to be completed in three to five years and are being designed to encourage homeownership among families with a combined annual income of $50,000.
Project: “Rebuilding Communities Campaign”
Location: North Lawndale, First Phase