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Featured News
CIC, The Resurrection Project Featured in FHLB Chicago Annual Report
CIC was pleased to be featured in the Federal Home Loan Bank of Chicago’s 2019 annual report video, released in March 2020. The video showcased Casa de Sol, a 54-unit single room occupancy building in Pilsen developed by The Resurrection Project (TRP). CIC served as TRP’s lender and AHP sponsor for the project. Jack Markowksi […] Read More
Now more than ever, affordable housing is paramount
Jack Markowski, along with Mike Mini of Chicagoland Apartment Association and Bob Palmer of Housing Action Illinois, co-authored an op-ed published in Crain’s Business Chicago. The op-ed advocated for $100 billion in rental subsidies, which “would help the entire economy recover from the damage caused by the COVID-19 pandemic and create a much more just, […] Read More
Lightfoot Unveils Proposed Affordable Housing Ordinance in Letter to Woodlawn Residents
In February, the City of Chicago announced its plans to develop and preserve affordable housing in the Woodlawn community. One component of the plan would create the Woodlawn Loan fund, to be administered by CIC. This fund would establish a $7 million fund for developers rehabbing homes in Woodlawn.
City nabbing land near Obama Presidential Center
Crain’s Business Chicago recently covered Community Initiatives, Inc. (CII) acquisition of vacant lots in Woodlawn. Jonah Hess, Director of CII, was interviewed for the story. At the request of the City, CII purchased seven vacant lots on East 63rd Street at a bankruptcy auction, for eventual transfer to the City of Chicago to promote its […] Read More
$67 Million Deployed into Chicago Communities to Improve and Preserve the Region’s Affordable Rental Housing
Subhead / Intro style if necessary On June 21, 2018, Mayor Rahm Emmanuel announced the launch of the Opportunity Investment Fund (OIF) as a key pillar in the Mayor’s new affordable housing strategy. At the Annual Report to Investors on December 18, CIC announced to investors that it delivered $67 million in loans and grants […] Read More
City of Detroit Creates New Partnership to Preserve Affordable Housing
CIC and The Preservation Compact are providing technical assistance to the City of Detroit and other partners to launch Detroit’s Preservation Partnership. The goal of this partnership is to guide and finance citywide housing renovation efforts while at the same time attempting to eliminate the risk of rent spikes and other increases. Stacie Young will […] Read More