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.
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....
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.
News—On October 26, Mercy Portfolio Services hosted a tour of rehabbed houses in Pullman and West Pullman, all available to qualified buyers through the Neighborhood Stabilization Program.
News—Mercy Portfolio Service's Homebuyer Fair at the Kroc Community Center drew prospective buyers from throughout the Chicago area to learn about the Neighborhood Stabilization Program and the… Continue
News—Prospective home buyers - lots of them - recently toured formerly vacant, foreclosed houses in Logan Square and Hermosa that have been renovated through the Neighborhood Stabilization Program and are… Continue
News—Katie Ludwig, an assistant commissioner dealing with foreclosure mitigation in the Chicago’s Department of Housing and Economic Development, discusses the impact of the Neighborhood… Continue
News—Rahm Emanuel tours West Humboldt rehab and explains the city’s Micro-Market approach.
News—Apartment buildings that have been acquired and renovated through the Neighborhood Stabilization Program are now accepting applications from tenants.
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
News—Pilot program due this fall aims to buy and renegotiate mortgages so working families are not foreclosed
News—Rehabbed, for-sale NSP houses were the subject of a recent tour in the historic Pullman and Roseland neighborhoods.
News—Chicago's Neighborhood Stabilization Program has a number of single-family homes and two-flats on the market in Chicago Lawn.
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
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
Properties for Sale listed in Homebuyers/Renters Section of this Website
October 26 Trolley Tour Photos!
Homebuyer Fair 2013!
NSP buildings among CAR Good Neighbor winners
NSP buildings at 5520-30 S. Prairie Ave., developed by Theodore Mazola and Prairie Park, LLC, and 5521 W. Gladys Ave., developed by Christopher Woods and Three Corners, LLC, were among 58 winners of the Chicago Association of Realtors 2012 Good Neighbor Awards. Winners are determined based on their quality construction, service to a special population, green benefits, market value and architectural significance.
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.
Maps of NSP neighborhoods
See larger map.
See a list of properties indicating their development status as of 7.1.14.
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.
NSP3 PROGRAM INFORMATION
NSP 3 Amendment
See the City of Chicago's amendment to its NSP 3 application.