Preserving and Renovating Existing Affordable Housing to Create Communities of Opportunity
The US faces a severe shortage of affordable housing. Preservation plays a vital role in maintaining the supply of affordable housing and preventing displacement and housing instability. However, much of the existing affordable housing is old and in desperate need of modernization in order to deliver environmentally sustainable, modern, safe housing.
Our Acquisition-Rehabilitation (Acq-Rehab) Team identify existing affordable housing in transit accessibile, resilient communities that need capital investment in order to remain affordable. Buying existing affordable housing, and leveraging tax-exempt bonds, Low Income Housing Tax Credits and other funding sources, maintains affordability and provides much needed funding for deep refurbishment, improving living conditions and environmental standards.
Barbara Jean Wright Courts
The acquisition and renovation of Barbara Jean Wright Courts Apartments preserves and revitalizes critical affordable housing near downtown Chicago, conveniently located close to some of the area’s top schools. Beyond creating a safer environment, the project emphasizes improving health and social outcomes for residents. A key component of the project was the ground-up construction of a 5,000-square-foot community clubhouse, designed to serve as a hub for resident activities and engagement.
Our Environmental and Social Impact Work: Creating Healthier, More Equitable and Sustainable Communities
We deliver environmental impact by investing in energy efficiency, decarbonization, and water conservation to reduce our use of natural resources and toxins. Our Acq-Rehab work delivers social impact by preserving and expanding housing affordability, and connecting our residents to health, education, financial, cultural, and social services, creating Communities of Opportunity where residents thrive.
The upgrades will not only enhance the living conditions, but instill a renewed sense of pride and community among residents. You know what this is called? This is called Building for the Future. What we are witnessing today exemplifies the power of partnership in achieving shared goals.
Acquisition & Rehabilitation Project List
Explore our portfolio of acquisition and rehabilitation projects.
Substantial rehabilitation and preservation of 280 units of HUD project-based Section 8 family and elderly housing, which offers community amenities including a community kitchen, fitness center, computer lab and library, wellness room, community gardens, and resident services coordination
Find out moreSubstantial rehabilitation and preservation of 250 units of HUD project-based Section 8 elderly housing, which offers community amenities including a community kitchen, fitness center, computer lab and library, wellness room, community gardens, and resident services coordination
Find out moreSubstantial rehabilitation and preservation of 272 units of HUD project-based Section 8, income-restricted, and unrestricted family, which offers community amenities including a community clubhouse, fitness center, computer lab, classrooms and resident services coordination
Find out moreCo-Developer and Co-GP in joint venture with Community Opportunity Fund and Wakeland Housing.
Find out moreSubstantial rehabilitation and preservation of 200 units of HUD project-based Section 8 elderly housing, which offers community amenities including a community kitchen, fitness center, computer lab and library, community gardens, and resident services coordination
Find out moreSubstantial rehabilitation and preservation of 193 units of HUD project-based Section 8 elderly housing, which offers community amenities including a community kitchen, fitness center, computer lab and library, community gardens, and resident services coordination
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