current CVP Projects
Bronzeville Lakefront Development
JCUA awarded a $200,000 loan to Chicago Neighborhood Initiatives for the Bronzeville Lakefront Development, an 80-acre multi-phase development on the site of the former Michael Reese Hospital. The loan will cover predevelopment costs for the first phase of the ten-year project, which will include the creation of 300 units of affordable housing for seniors.
CHicago Furniture Bank
JCUA awarded a $200,000 loan to the Chicago Furniture Bank to cover costs associated with the purchase and relocation to a new facility located in Chicago’s Brighton Park neighborhood. The mission of the Chicago Furniture Bank is to provide dignity, stability and comfort to Chicagoans facing poverty by allowing clients to handpick an entire home’s worth of furniture for only $50. Data suggests that those living in a furnished home are 50 percent less likely to fall back into homelessness. With the purchase of the new building, the CFB is able to increase its capacity from 3,000 homes furnished per year to 5,000 homes per year, becoming the largest furniture bank in the country.
Churchview supportive living
JCUA awarded a $100,000 loan to the Greater Southwest Development Corporation (GSDC) to cover costs associated with the rehabilitation of an 86-unit rental building in the Chicago Lawn neighborhood. Churchview Supportive Living offers residents congregate dining, nursing support, an activities director, and other amenities. GSDC built the facility in 2004 as an “annex” to its successful Churchview Manor Independent Living Facility, a six-story, 68-unit facility constructed in 1990. After 18 years of service, GSDC will upgrade and rehabilitate the facility, updating bathrooms and kitchenettes in each of the units, replacing A/C units, installing new carpet and windows, and painting each unit.
JCUA awarded a $100,000 loan to Interfaith Housing Development Corp. (IHDC) to cover predevelopment costs for a 42-unit project in Humboldt Park. This Permanent Supportive Housing development will serve adults with disabilities and is located one block from the Garfield Park Conservatory and two blocks from the CTA Green Line. This is CVP’s third loan to support an IHDC project.
JCUA awarded a $200,000 loan to Housing Forward to cover a portion of the predevelopment costs associated with the construction of 16 units of Permanent Supporting Housing in Broadview, Illinois. H-F Broadview will serve individuals and families including veterans who are experiencing homelessness and have a documented long-term disabling condition. While this is Housing Forward’s first foray into housing development, the organization has three decades of experience serving its target population and is a recognized leader in the prevention, outreach, and permanent housing solutions aimed at ending homelessness.
SOUTH SIDE HOME REPAIR PROGRAM
JCUA awarded a $200,000 loan to Neighborhood Housing Services (NHS) to support their Home Repair Program — a project to provide up to $25,000 in home repairs to up to 150 low income homeowners on the South Side of Chicago. NHS Chicago is the administrator of the City-funded program. CVP funds will be used as gap financing to pay small neighborhood-based contractors who perform the work while NHS is awaiting City reimbursement.
Humboldt Park United Methodist Church
JCUA awarded a $100,000 loan to the Humboldt Park United Methodist Church (HPUMC) in Logan Square to pay for remediation of code violations identified by the City. The majority of the violations relate to the repair of the envelope of the building — the parapet walls, coping tiles, chimney reconstruction, and tuckpointing. The repairs will be done to the portion of the property that contains 12 apartments which provides affordable housing to low- and very- low income households.
JCUA awarded a $200,000 loan to Preservation of Affordable Housing (POAH) to cover a portion of the predevelopment costs associated with the rehabilitation of Levy House, a 57-unit rental building located in Rogers Park. The future affordability of the building had been the subject of much high-profile debate, with the prior owner planning to sell the building to market rate developers. With the effective mobilizing of the housing advocacy community, POAH, along with CHA and the City of Chicago, have created a plan to maintain 100 percent of the units as affordable senior housing for the long term. The rehabilitation will be completed without displacing any residents.
STAR FARM CHICAGO
JCUA awarded a $100,000 loan to Star Farm Chicago to support the buildout of its new space in Chicago’s Back of the Yards neighborhood. Launched in 2016, Star Farm provides produce to local residents at low-or no-cost, sells at nine farmer’s markets and operates a successful City-wide Community Supported Agriculture program that sells retail seasonal produce. Last year they provided more than 20,000 pounds of local organic produce throughout the City. Star Farm plans to host a Fresh Market and Community Kitchen at its new site, creating five full-time and two part-time new living wage paying jobs for local residents.
JCUA awarded a $100,000 loan to The Renaissance Collaborative (TRC) to cover predevelopment costs for the rehabilitation of the Wabash YMCA, a 101-unit Single Room Occupancy property in Bronzeville. First opened in 1914, the Wabash YMCA was one of 25 YMCAs supported by Julius Rosenwald and served as an important social center within Chicago’s Black Metropolis area. CVP provided a loan to TRC to help save the Wabash Y more than 20 years ago, and we’re thrilled to partner with TRC once again to support the facility’s rehabilitation and long term affordability.
West Pullman Apartments
JCUA awarded a $150,000 loan to Interfaith Housing Development Corp. (IHDC) for the West Pullman Apartments. The loan will cover predevelopment costs for 39 units of permanent supportive housing. This development will serve families who were formerly homeless, many of whom have household members with disabilities. The West Pullman development will meet all Passive Home requirements, meaning that its airtight design will decrease the building’s reliance on fossil fuels. This is CVP’s first project in West Pullman.
1850 S. Racine
JCUA awarded a $100,000 loan to The Resurrection Project for a portion of the predevelopment costs to develop five lots into 37 units of housing — one-, two- and three-bedroom apartments — to address the need for affordable housing in the rapidly gentrifying Pilsen neighborhood. The project will serve families between 30-36 percent of Area Median Income.