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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. For more details, watch this video....

New Houses, Local Jobs Make for Better NeighborhoodsNew Houses, Local Jobs Make for Better Neighborhoods

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 marketNSP houses hit the market

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 DevelopersInformation 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 FoundationLaying a Stable Foundation

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 ’hoodsHearing from the ’hoods

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 NSPProperties Acquired by NSP

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

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

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

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 NeighborhoodsList 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 CrossingDevelopers See Opportunities in Greater Grand Crossing

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 buildingGreenhouse: NSP incorporates eco-friendly building

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

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…

New requests for proposals!

See requests for proposals for appraisal services, real estate professional services, scope writing services, and vacant building board-up and asset management services. Responses due by October 22, 2010!

Maps of NSP neighborhoods

Census tract maps for NSP2 neighborhoods, including Albany Park, Chicago Lawn, Englewood, Grand Crossing, Humboldt Park, Logan Square/Hermosa, South Chicago, South Lawndale, Washington Park, and Woodlawn.



Directory

29 W. 108th St., 1 unit
29 W. 108th St.
Chicago, IL
Latin United Community Housing Association (LUCHA)
(773) 276-5338 x236
3541 W North
Chicago, IL 60647
5615 S. Prairie Ave., 10 units
5615 S. Prairie Ave.
Chicago, IL

Browse directory »

Contact us:

William Towns
VP Community Action Plans, Mercy Portfolio Services, Neighborhood Stabilization Program
120 S. LaSalle St., Suite 1850
Chicago, IL 60603
wtowns@mercyhousing.org
(312) 447-4609 (phone)
(312) 447-4750 (fax)