Chicago Rebuild 2.0

Chicago Rebuild 2.0

Overview: Brings targeted investment to neighborhoods where decades of disinvestment have left large numbers of vacant homes. GAC administers this program in Pullman and Roseland neighborhoods.

Program Structure

• Grant Fund: $5 million grant fund managed by GAC
• Partners: City of Chicago's Department of Housing, Illinois Housing Development Authority
• Administrator: GAC manages and administers the program in Pullman and Roseland

Problem Addressed

• Neighborhoods with decades of disinvestment
• Large numbers of vacant homes
• After-rehab values often fall below total development costs
• Traditional construction financing difficult to secure

Key Activities

• Identifies qualified developers
• Evaluates eligible properties
• Provides construction financing when needed
• Oversees full draw and compliance process
• Concentrates resources and advances multiple projects simultaneously
• Restores confidence in local housing markets

Outcomes

• Developers achieve economies of scale
• Accelerates visible neighborhood revitalization
• Transforms long-vacant properties into quality homes
• Strengthens surrounding communities

Geographic Scope

• Pullman and Roseland neighborhoods, Chicago, IL

Contact Information

• Email: loans@greenwoodarchercapital.org
• Phone: (773) 341-2060
• Address: 1000 East 111th Street, 10th Floor, Chicago, IL 60628