A key to neighborhood redevelopment
The federally-funded Neighborhood Stabilization Program is combating a challenging housing market that affects neighborhoods across large sections of Chicago. Its primary focus is on areas of the South, West and North sides that can serve as catalysts for revitalization of larger areas around them. If the recession and credit crisis are prolonged, as many experts fear, the program will at the least help neighborhoods minimize the damage, bring up the bottom of their downward curve, and begin recovery sooner than if no intervention had taken place.
NSP is designed to reverse the downward trend affecting many of our neighborhoods. By creating high-quality, energy efficient housing and arranging for tiered subsidies based on income levels and neighborhoods, the program will re-ignite local markets, lock in affordability for buyers and renters, and support local economic development and job growth. This will restore local confidence, protect recent and planned investments and ultimately turn around local markets. See a list of properties, indicating their development status. For more details, watch this video....
John McCarron, January 19, 2012
News—Rahm Emanuel tours West Humboldt rehab and explains the city’s Micro-Market approach.
Bill Healy, October 31, 2011
News—Apartment buildings that have been acquired and renovated through the Neighborhood Stabilization Program are now accepting applications from tenants.
John McCarron, October 28, 2011
News—The one-two punch of the foreclosure epidemic and Great Recession is teaching community development practitioners to build more effective partnerships, get closer to local conditions … and… Continue
John McCarron, September 12, 2011
News—Pilot program due this fall aims to buy and renegotiate mortgages so working families are not foreclosed
Bill Healy, September 7, 2011
News—Rehabbed, for-sale NSP houses were the subject of a recent tour in the historic Pullman and Roseland neighborhoods.
Bill Healy, August 4, 2011
News—Chicago's Neighborhood Stabilization Program has a number of single-family homes and two-flats on the market in Chicago Lawn.
John McCarron, July 18, 2011
News—If you’re looking for good news on the housing front this summer in Chicago, good luck. There isn’t much … but there is some. The federal government is moving to improve its… Continue
Gordon Walek, May 17, 2011
News—The Neighborhood Stabilization Program over the last two years has acquired and rehabbed hundreds of vacant foreclosed houses throughout Chicago. Many of them are now coming on the market, and… Continue
Bill Healy, March 8, 2011
News—The “mission” of New Pisgah Missionary Baptist Church, in Auburn Gresham, goes way beyond shouting distance of its physical facility on South Racine Avenue. The church’s community… Continue
Bill Healy, February 17, 2011
News—The transformation of empty, foreclosed East Garfield Park houses into affordable, for-sale homes is the latest positive trend in the West Side neighborhood.
Bill Healy, January 24, 2011
News—People interested in purchasing an NSP home must meet a few requirements. This Q&A with Crystal Kimbrough, the first Chicago NSP homebuyer, and her realtor describe what they are.
Our neighborhoods—See a list of qualified NSP developers.
Download the Request for Developer Qualifications.
Two new Pullman rowhouses on market...
Affordable housing at its finest in North Pullman! These beautiful gut rehabs, at 10728 and 10730 S. Champlain Ave., offer 2-bedrooms and 1.5-baths. Properties boast bamboo hardwood floors, stainless steel refrigerators, oven range/hoods and dishwashers, new high efficiency HVAC and hot water mechanicals, private backyards with newly poured concrete car parking pads, washer/dryers, and much, much more! $80,000 each!
Apartments for rent!
A number of apartment buildings acquired through NSP in a variety of neighborhoods have been renovated and apartments in those buildings are now available for rent. Others are expected to be completed shortly. A new rental section lists where those apartments are and when they will be on the rental market.
Two rehabbed two-flats just listed in South Shore...
7728 S. Ridgeland Ave.
7525 S. Ridgeland Ave.
Maps of NSP neighborhoods
See larger map.
See a list of properties, indicating their development status.
Census tract maps for NSP2 neighborhoods, including Albany Park, Chicago Lawn, Englewood, Grand Boulevard, Grand Crossing, Humboldt Park, Logan Square/Hermosa, South Chicago, South Lawndale, Washington Park and Woodlawn.