The city of Chicago is starting a new program to not only acquire but to rehabilitate fifty vacant homes in the Garfield Park, Humboldt Park, and Englewood neighborhoods.
The Chicago Neighborhood Rebuild Training program is expected to generate jobs that are transitional as well as training opportunities for at risk young people and ex-offenders.
‘This program is a win-win – it will help revitalize communities while generating employment and training opportunities in areas that need them the most,” said Mayor Emanuel. “By bringing together community, non-profit and corporate partners for important programs like this we can generate a powerful economic impact that makes a difference for years to come.”
The homes that will be rehabbed will also be advertised and set at prices that are affordable to the general public.
In addition to this $2 million dollar initiative in city funding, $4 million in the private capital will be provided by MB Financial, Rush University Medical Center and the Chicago Community Loan Fund.
“Rush’s mission of improving the health of the individuals and communities we serve is about more than just providing quality health care,” says the chief investment officer, and treasurer at Rush University Medical Center, Steeves O’Neil “We must also address the social and economic forces that are root causes of poor health, and increase the amount of affordable housing and jobs in Westside communities does just that. We’re proud to be part of the Chicago Rebuild Program.”