JPMorgan Chase announced Chicago is one of seven winning cities in its AdvancingCities Challenge, part of the firm’s $500 million, five-year initiative to drive inclusive growth and create greater economic opportunity in cities. A collaborative of seven organizations will receive a $7.2 million philanthropic investment to boost long-term homeownership through innovative new modular home construction, and financial products and coaching in South and West side neighborhoods, including Back of the Yards, North Lawndale, and Chicago Lawn.  

This commitment will support the creation and preservation of over 150 affordable housing units for families and individuals between 60-120 percent area median income. The effort will be led by The Resurrection Project, in collaboration with Back of the Yards Neighborhood Council, Peace and Education Coalition of the Back of the Yards Neighborhood, Precious Blood Ministry of Reconciliation, Capital Good Fund, Lawndale Christian Development Corporation, and Southwest Organizing Project. Together, these organizations aim to help strengthen recovery efforts in Chicago, and address the needs of Black and Latino communities, which have been disproportionately affected by the COVID-19 pandemic and decades of underinvestment.  To learn more about AdvancingCities visit www.jpmorganchase.com/advancingcities.