A new $7.2 million grant will prepare thousands of renters on Chicago’s South and West Sides for homeownership and seek to boost hundreds into the American dream by helping them buy homes in their communities, increasing wealth for the city’s Black and Latino families.
The grant, from JPMorgan Chase, will go to a coalition of seven community organizations to bolster affordable homeownership and to make new homes sprout across vacant lots.
It will build 150 new homes using modular construction – meaning homes are built in a factory and then assembled on-site in an effort to lower costs.
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