Paving the Path to Homeownership for Housing Choice Voucher Holders
Since the mid-20th century, homeownership has been one of the most important vehicles for building wealth in the United States. According to research from the…
Since the mid-20th century, homeownership has been one of the most important vehicles for building wealth in the United States. According to research from the…
For more than 100 years, The Chicago Community Trust has convened, supported, funded, and accelerated the work of community members and changemakers committed to strengthening the Chicago region. From building up our civic infrastructure to spearheading our response to the Great Recession, the Trust has brought our community together to face pressing challenges and seize our greatest opportunities.
Grant Recipient
Grant Recipient
Grant Recipient
Grant Recipient
United Yards is the selected development for the New City community for the Invest South/West Initiative of the City of Chicago. The property project, developed by Celadon Partners and the Blackwood Group, is a large, mixed-use development at the intersection of S. Ashland Ave. and W. 47th St. The development team is forming a joint venture with local business owners, let by the owner of Back of the Yards Coffee Company, who had also competed in the RFP process, to bring in model for ownership of small businesses in a cooperative development structure. The development is being developed as United Yards Phase IB, concurrent with a separate LIHTC development of 51 affordable units and an Opportunity Hub one block away. Back of the Yards Works will be a locally-owned entity that will receive the retail space for a triple-net lease payment of $1 annually and will feature business including a bakery, brewery, coffee shop, barber collective, t-shirt boutique, and Marimba Institute. Over 25,000 ft.² of retail space will be developed in two buildings, the ground floor of the Goldblatts building at 47th and Ashland and a new construction building at Marshfield and 47th. Over 12,000 sq ft will house the Back of the Yards Works with the remaining space occupied by a local, nonprofit federally qualified health center. The model United Yards is proving with this development will enable full ownership of the Back of the Yards development after the seven year compliance period of the new markets tax credits. The project is being developed with the primary focus of enhancing diverse employment opportunities for the back of the arts communities while emphasizing local ownership.
Grant Recipient
Grant Recipient
Grant Recipient
Grant Recipient