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FHLBank Chicago Awards Funds to Diverse Developers Through Grant Program

FHLBank Chicago Awards Funds to Diverse Developers Through Grant Program

The Federal Home Loan Bank of Chicago (FHLBank Chicago) has doubled its annual support to $2 million in the second year of its Community First Diverse Developer Initiative, bringing the total three-year commitment to $4 million.

The Diverse Developer Initiative was launched in 2022 as a three-year commitment to grow the diverse developer talent pipeline in Illinois and Wisconsin. The program focuses on career development and funds up to 35 fellowships and internships for ten beneficiary organizations.

“Through programs like the Diverse Developer Initiative, we can address the systemic barriers facing aspiring diverse developers and create a lasting talent pipeline in real estate development,” said Katie Naftzger, SVP, Community Investment Officer, FHLBank Chicago.

2023 Recipients

  • Community First, Inc.1
  • FIT Investment Group LLC
  • Royal Capital Group, LLC  
  • Illinois Housing Council
  • KG Development Group  
  • Lawndale Christian Development Corporation
  • The Resurrection Project  
  • Community Investment Corporation
  • Habitat for Humanity
  • Northwest Side Community Development Corporation

Inside The Story

FHLBank Chicago

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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