GROWTH by NCRC and Greenlining Realty USA Celebrate Completion of Nine Homes in West Woodlawn
Woodlawn Pointe Project in South Chicago’s Historical Neighborhood Designed to Help Reverse Long-Term Impacts of Discriminatory Redlining Practices
CHICAGO, IL (Jan. 15, 2021) – The NCRC Housing Rehab Fund, LLC (NCRC HRF) and Greenlining Realty USA announced today the completion of nine new housing units as part of the Woodlawn Pointe project. Greenlining Realty USA partnered with the National Community Reinvestment Coalition’s GROWTH initiative, the Chicago Land Bank and Constructive Renovations to develop the homes in the historic Chicago neighborhood of West Woodlawn this year.
Located on Evans Street, the Woodlawn Pointe project includes construction of seven new single-family homes by Constructive Renovations on land provided by the Cook County Land Bank Authority, as well as two fully renovated homes (one single-family and one multi-family home). Built in a historic Black community on the Southside of Chicago, Woodlawn Pointe home designs highlight the neighborhood’s historic architecture and the project’s three models are named after famous residents.
“We are a mission-driven real estate fund helping make homeownership possible for working-class people across the country,” said Ed Gorman, Managing Director, the NCRC Housing Rehab Fund. “We are honored to partner with Greenlining Realty USA on the Woodlawn Pointe project in the historic West Woodlawn neighborhood on Chicago’s Southside. Working together, this community continues to reverse decades of underdevelopment with community revitalization projects, bringing investment in business, affordable housing and community development throughout the area.”
“Greenlining is proud to have worked with NCRC on Woodlawn Pointe in order to make our vision of community reinvestment a reality,” said Lamell McMorris, Founder and Managing Principal of Greenlining Realty USA. “Woodlawn Pointe offers high quality homeownership in my childhood neighborhood of West Woodlawn, a community long neglected by discriminatory practices such as redlining. Greenlining is committed to working in partnership with historically Black communities so that they benefit from reinvestment in their neighborhoods.”
The completion of Woodlawn Pointe’s nine housing units marks a major milestone in the community revitalization project. Partnering with GROWTH, Greenlining Realty USA is working to reverse the historically damaging effects of discrimination in lending practices affecting urban neighborhoods in Chicago through the creation of pathways to capital essential for neighborhood investment, redevelopment, housing rehabilitation and home improvement. The discriminatory practice of ‘redlining’ historically limited mortgage and financial services to communities of color, putting home and business ownership beyond the reach of local residents and denying investment opportunities in these historic neighborhoods.
“Infill development is a real economic boost, because you’re building off the strength of a neighborhood,” said Rob Rose, Executive Director of the Cook County Land Bank Authority. “The Woodlawn neighborhood is ripe for this kind of project as it provides opportunities for wealth-building, community engagement and neighborhood revitalization. We are excited to be a part of this development.”
The project also featured a partnership with the community-based nonprofit YWCA, who facilitated the placement of local residents in construction training positions on site with Constructive Renovations. Providing local residents with employment opportunities is a mission shared by all of the partners.
Several financial institutions who invested in the NCRC Housing Rehab Fund are also recognized for their role in this partnership, including Synchrony, Huntington Bank and Fifth Third Bank.
The project completed in December 2020 with eight of the homes currently available for sale. Please contact Jerry Brown at (630) 909-9976 for more information about the houses listed for sale. The properties can also be viewed at https://www.woodlawnpointechicago.com/about.
About GROWTH
We believe that no matter where you start in life, or the neighborhood you live in, every family deserves the opportunity to own a home, to start building wealth and to enjoy the American Dream. Our mission is to make homeownership possible for more people.
GROWTH is an initiative of the National Community Reinvestment Coalition (NCRC) and is fueled by the NCRC Housing Rehab Fund (the “Fund”), a private equity real estate fund focused on rehabbing (and building new construction) single-family houses to provide affordable homeownership opportunities in low- and moderate-income communities or for low- and moderate-income people. The Fund has been operating for five years and is operating in over 15 cities.
For more information about NCRC Housing Rehab Fund, please contact Ed Gorman, egorman@ncrc.org, (202) 464-2728 or visit www.growthbyncrc.com.
About Greenlining Realty USA
Greenlining Realty USA is a national real estate development and management firm. We work in partnership with local municipalities throughout the country to create mixed-use developments with large scale economic impact. Our mission is to work in the community and for the community creating comprehensive developments that revitalize historically under served and distressed communities. At Greenlining Realty USA, by strategically leveraging local resources and other investment opportunities, we measure success by the delivery of tangible quality of life enhancements we bring to the communities and businesses we serve. You can access the Greenlining Realty, USA website at https://greenliningrealtyusa.com/, and follow the company on Twitter and Facebook.