More than 125 bankers today toured two Chicago neighborhoods whose redevelopment is being led by coalitions of banks, municipal groups and local community development nonprofits. Focused on the Woodlawn and Englewood areas on Chicago’s South Side, the tour spotlighted affordable rental and home purchase projects, community resources and commercial property development.
The delegation, which included ABA’s Board of Directors and ABA Foundation board members, saw Woodlawn’s rehabbed small-scale rental housing, the Renew Woodlawn homeownership program, a new Woodlawn community resource center for all ages, Englewood’s 63rd Street commercial corridor and the Hope Manor II veterans’ residential community. These programs, facilities and amenities all showcase partnerships among banks, nonprofits and government agencies.
In a post on Medium this morning, ABA President and CEO Rob Nichols discussed the tour and the significance of the partnership among banks, nonprofits, local businesses and community leaders. “These projects will not solve all the challenges facing Woodlawn and Englewood or the city of Chicago on their own, but they hold the promise of making life better for people living there,” he wrote. “They also show how banks, local organizations and the city are working to restore, renew and reimagine Chicago’s storied neighborhoods, one street at a time.”
The event was the fifth annual community development tour hosted by the ABA Foundation in conjunction with ABA’s Annual Convention.