New Houses, Local Jobs Make for Better Neighborhoods

Bill Healy, July 19, 2010

News—Developer Melvin Bailey is putting local people to work, renovating foreclosed East Garfield Park homes through the Neighborhood Stabilization Program.

NSP houses hit the market

Bill Healy, June 8, 2010

News—The first houses to be renovated and offered for sale under the Neighborhood Stabilization program are now available in the Chicago Lawn community. A tour of renovated NSP homes is scheduled for… Continue…

Information for and about Chicago NSP Developers

Our neighborhoods—Here's where to find background information on the development companies working in Chicago NSP target communities.

Laying a Stable Foundation

John McCarron, February 6, 2010

News—Ophelia Cage knows all too well the damage – physical and psychic – that a foreclosed and vacant house can do to a neighborhood. She lives next door to an empty bungalow at 6324 S. Campbell… Continue…

Hearing from the ’hoods

John McCarron, March 16, 2010

News—Aldermen, community leaders and plain folk recently weighed in at City Council hearing on the Neighborhood Stabilization Program, which is designed to stem the further deterioration of certain… Continue…

Chicago Neighborhood Stabilization Program Q&A

About us—What is the Chicago Neighborhood Stabilization Program? The August 2008 “Housing and Economic Recovery Act” authorized the almost $4 billion “Neighborhood Stabilization… Continue…

Properties Acquired by NSP

July 30, 2010

News—Following are properties (314 units) NSP has acquired as of July 30, 2010, listed by neighborhood.

Chicago Wins $98 Million in Second Round of NSP Funding to Acquire Foreclosed Properties

John McCarron, January 20, 2010

News—Chicago will receive a $98 million federal grant to recycle foreclosed homes. The amount, second only to Los Angeles among U.S. cities, reflects and validates the efforts the city and its… Continue…

NSP Chicago – When the Going Gets Tough, the Tough Get Going

Matt Field, January 20, 2010

News—The federally-funded Neighborhood Stabilization Program may have been dreamed up in Washington, but it is at the state and local level that reality is setting in.

Two-flat, And Workers Maintaining It, Get Second Chance

John O'Neill, October 6, 2009

News—The building at 7721 S. Carpenter St. had been vacant for months. The lawn and bushes were overgrown. Some boards had been pried from the windows. Vagrants had moved in. Mildewed carpets and… Continue…

List of Eligible Neighborhoods

NSP Chicago Target Communities—Chicago's Neighborhood Stabilization Program identified 28 eligible regions with high foreclosure rates and where many homeowners took out subprime mortgages. Those are the areas that will be… Continue…

Developers See Opportunities in Greater Grand Crossing

Matt Field, September 30, 2009

News—To real estate developer Maurice Williams, the property at hand is often the least interesting thing about a potential deal. “I’m looking at everything but that house,” he says. “I’m looking at… Continue…

Greenhouse: NSP incorporates eco-friendly building

Matt Field, November 9, 2009

News—One silver-lining of the foreclosure storm that hit Chicago is that many NSP developers will rehab homes to include new, eco-friendly features. One home in South Shore is even getting solar panels.

Job #1 for NSP: Fill Empty Houses to Stabilize Neighborhoods

Matt Field, August 31, 2009

News—The crime was shocking even by West Side standards. Several men were standing on a blighted section of Walnut Street in East Garfield Park when a gunman charged from a vacant lot, fired into… Continue…