By Sarah Gold
JCUA Manager of Community Building
As part of my ‘initiation’ into my new role leading JCUA’s Community Ventures Program (CVP), I had the opportunity to visit and touch base with each of our current projects. Here is a snapshot of how JCUA’s loan fund is being used to make a difference by supporting three essential affordable housing and economic development projects throughout Chicago.
Breaking Ground – Rehabbing of Foreclosed homes
Breaking Ground, Inc. is a community-based organization on the west side of Chicago, which provides leadership development, manufacturing job training, and employment in construction and related fields to residents of Lawndale and Garfield Park. Breaking Ground is working to rehabilitate abandoned and foreclosed homes in West Lawndale, Berwyn, Bellwood, Maywood, and Austin. In 2011, JCUA provided a zero-interest loan of $90,000 to support housing redevelopment work.
As of today, Breaking Ground has leveraged the CVP loan and is redeveloping and selling 45 homes as follows:
► Sold – 26 units
► In construction / completed waiting to be sold – 13 units
► Under Contract to acquire – 6 units
JCUA’s loan is enabling Breaking Ground to continually rehab multiple properties at once. I had the opportunity to visit two homes, one under construction and one under contract to be sold. When visiting with Breaking Ground, Josh DeGraff, Director of Housing stated, “Without the much needed help from the JCUA loan keeping our contractors working we wouldn’t have been able to accomplish the great things we have done in the Chicagoland affordable housing community during the past few years. We are very thankful for Breaking Ground’s partnership with JCUA.” Learn more about Breaking Ground.