NHS of Chicago and Partners Celebrate First Affordable Housing Rehab in West Humboldt Collaboration

November 5, 2003 -- PRNewswire via COMTEX -- Residents of the 600 block of North Sawyer joined Near Northwest Neighborhood Network (NNNN) and Neighborhood Housing Services of Chicago (NHS) leaders to celebrate the completed rehab of a formerly vacant property on their block. The property at 645 North Sawyer was purchased from HUD and rehabbed through the collaborative efforts of NNNN and NHS with financial support from the Chicago Department of Housing's (DOH) Pilot Preservation Program.

"This once problem property is now a home thanks to the power of partnership," said Eliud Medina, NNNN executive director. "Turning a property like this around on an otherwise solid block, down the street from Morse Elementary, is an important part of building and maintaining strong neighborhoods."

The process began when the DOH selected NNNN to participate in its Pilot Preservation Program in West Humboldt. The program provides not-for-profit developers with an appraisal gap subsidy that covers the difference between the cost to purchase and rehab a property and its appraised value.

NNNN partnered with NHS Redevelopment Corporation to acquire, rehab and sell single-family homes to low- and moderate-income buyers. The property at 645 North Sawyer is one of four properties already under rehab as part of this program in West Humboldt. The others are located at 610 N. Central Park, 710 N. Trumbull, and 3656 W Ohio.

"This initiative took teamwork and, together, we have made a real difference by increasing affordable housing options and bringing vacant housing back into productive use," said Housing Commissioner John Markowski. "We will continue to work together to build and preserve housing in Chicago, and improve the lives of our residents."

"NHS is pleased to partner with NNNN and the Department of Housing," said Bruce Gottschall, executive director of NHS. "Building strong neighborhoods with affordable housing requires all of us working together with neighbors to succeed."

The Near Northwest Neighborhood Network is a multi-issue community-based organization serving the neighborhoods of West Town and Humboldt Park. NNNN's mission is to develop the will and vision to stabilize and revitalize these communities and to improve the quality of family and work life for their low- and moderate-income residents.

Neighborhood Housing Services of Chicago, Inc. is Chicago's largest non-profit housing organization. NHS of Chicago has more than 27 years of experience in educating residents of Chicago on home ownership, as well as offering innovative and affordable home purchase, home improvement, and home rehab loans. NHS is also a charter member of the national NeighborWorks® network.

SOURCE Neighborhood Housing Services of Chicago, Inc.

For more information, contact Janina Castillo of Dept. of Housing, (312)745-2148, Eluid Medina of NNNN, (773)489-0383; or Floyd Gardner, (773)533-5570, or Mary Fran Riley, (773)329-4129, both of NHS.

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