JV Will Build 250 Affordable Homes on City-Owned Lots in Lawndale
The Lightfoot administration on Monday launched the Reclaiming Communities Campaign, a joint venture between Chicago Neighborhood Initiatives and Lawndale Christian Development Corporation in partnership with United Power for Action and Justice (UPAJ).
The Campaign will build 250 new homes in North Lawndale, a key community in the city’s INVEST South/West initiative. UPAJ has an aspirational goal of building 1,000 affordable new homes on the South and West Sides. The city will sell 250 city-owned lots to the JV for $1 each.
As part of its commitment to keep the homes affordable, UPAJ has secured $10 million in the state’s budget to provide an average homebuyer subsidy of $30,000 to prospective buyers. UPAJ has also secured commitments that include $12.25 million from private-sector sources including JP Morgan Chase, The Steans Family Foundation, The Owens Family Foundation, Pete Villim and The Roche Family Foundation.