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Renew Woodlawn Program provides incentives for prospective home owners to invest in neighborhood

May 9, 2016

Community leaders launched the Renew Woodlawn Homeownership Program that provides incentives to purchase a home in the South Side neighborhood of Woodlawn at a symbolic ribbon cutting that celebrated the first home closing under the program. Renew Woodlawn is funded by the U.S. Department of Housing and Urban Development, the National Foreclosure Settlement Awards and the City of Chicago.

Three Chicago nonprofits that specialize in affordable housing have partnered with the  Department of Planning and Development (CDPD)  on the program - POAH,  Neighborhood Housing Services of Chicago Inc. (NHS) and the Community Investment Corporation (CIC).

Prospective homebuyers can get incentives to purchase and rehabilitate homes -- including grants for down payments and other assistance. The target area is bounded by 60th St. on the north, 67th St. on the south, King Drive on the west and Stony Island Ave. on the east.

The newly launched program is part of ongoing neighborhood revitalization efforts initiated by POAH with its acquisition in 2008 of the former Grove Parc Plaza and a HUD Choice grant awarded to POAH and the City of Chicago in 2011. funded by the U.S. Department of Housing and Urban Development,

Our goal is to see Woodlawn renewed as a healthy urban ‘neighborhood of choice’ that can attract households and businesses that have geographic options,” said Bill Eager, Vice President, POAH Chicago Area. “We are pursuing property redevelopment and reinvestment, infrastructure improvements, employment services and supports and investments in community institutions. The Renew Woodlawn program is a key piece of that strategy.”

PHOTO: William Eager, POAH Chicago; Jack Markowski, CIC; Deborah Moore, NHS; Kristin Faust, NHS; Gerald Smith, HUD; Alderman Willie Cochran; Courtney Nelson, new homeowner ; and City Planning Commissioner David Reifman

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