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In Logan Square and Hermosa, home buyers on the hunt
- Gordon Walek, Oct 5, 2012
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 now available for sale to people of modest means.
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NSP: Where it's been, where it's going
- Bill Healy, Apr 4, 2012
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 Stabilization Program.
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Mayor hails first fruit of foreclosure fight
- John McCarron, Jan 19, 2012
Rahm Emanuel tours West Humboldt rehab and explains the city’s Micro-Market approach.
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Chicago NSP helps fill demand for affordable rental housing
- Bill Healy, Oct 31, 2011
Apartment buildings that have been acquired and renovated through the Neighborhood Stabilization Program are now accepting applications from tenants.
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Moving Forward Together
- John McCarron, Oct 28, 2011
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 maybe even redefine what’s possible.
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Foregoing foreclosures
- John McCarron, Sep 12, 2011
Pilot program due this fall aims to buy and renegotiate mortgages so working families are not foreclosed
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Pullman/Roseland NSP Open House Tour: Unique homes at affordable prices
- Bill Healy, Sep 7, 2011
Rehabbed, for-sale NSP houses were the subject of a recent tour in the historic Pullman and Roseland neighborhoods.
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NSP making a difference in Chicago Lawn
- Bill Healy, Aug 4, 2011
Chicago's Neighborhood Stabilization Program has a number of single-family homes and two-flats on the market in Chicago Lawn.
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Points of light amid foreclosure funk
- John McCarron, Jul 18, 2011
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 under-performing Home Affordable Modification Program (HAMP) by prodding mortgage lenders and servicers to move faster and even reduce balances owed to reflect the declining market. Meanwhile, the city’s Neighborhood Stabilization Program (NSP), managed by Mercy Portfolio Services, is restoring dozens of foreclosed and vacant homes and is having success selling them to new owners at affordable prices.
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Now’s the time to buy? In Humboldt Park, answer may be yes
- Gordon Walek, May 17, 2011
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 prospective buyers are taking notice.
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New Pisgah rescues foreclosed homes
- Bill Healy, Mar 8, 2011
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 service organization is playing a major role in addressing the foreclosure issue that’s bedeviling Auburn Gresham and many other Chicago neighborhoods.
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On West Walnut Street the scenery looks a little brighter
- Bill Healy, Feb 17, 2011
The transformation of empty, foreclosed East Garfield Park houses into affordable, for-sale homes is the latest positive trend in the West Side neighborhood.
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A Q&A about buying an NSP house
- Bill Healy, Jan 24, 2011
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.
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NSP funds help create energy efficient bungalows
- Bill Healy, Jan 4, 2011
A block of bungalows in the city's South Shore neighborhood get retrofitted for maximum energy efficiency, thanks to NSP and the Historic Chicago Bungalow Association.
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Woman’s search for perfect house: an NSP property in Oakland
- Bill Healy, Dec 7, 2010
Crystal Kimbrough is the first person to purchase, and move into, a formerly vacant, foreclosed house that was rehabbed through the Neighborhood Stabilization Program.
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Chicago gets new NSP funds
- Bill Healy, Oct 5, 2010
Washington Park shows signs of new life through the Neighborhood Stabilization program and other housing development.
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Chicago Amendment to the NSP 1 Substantial Amendment
- Jul 22, 2010
The City of Chicago is amending its NSP 1 Substantial Amendment allocation priorities. This amendment will be posted for a 15 day public comment period. Please note that comments will be collected through August 5, 2010. A summary of comments will be forwarded to the Department of Housing and Urban Development for review. The amendment can be accessed by downloading the document below.
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New houses, local jobs make for better neighborhoods
- Bill Healy, Jul 19, 2010
Developer Melvin Bailey is putting local people to work, renovating foreclosed East Garfield Park homes through the Neighborhood Stabilization Program.
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Reaching out to the neighborhoods
- John McCarron, Jun 21, 2010
Residents, community organizations get the skinny on the Neighborhood Stabilization Program.
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Illinois Association of Realtors weighs in on NSP
- Jun 14, 2010
Last fall, Brian Bernardoni, in a publication of the Illinois Association of Realtors, desbribed how realtors are involved in the Neighborhood Stabilization Program.
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NSP houses hit the market
- Bill Healy, Jun 8, 2010
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 Saturday, June 12.
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Developer Request for Qualifications
- Mar 22, 2010
NSP's Developer Request for Qualifications.
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Hearing from the ’hoods
- John McCarron, Mar 16, 2010
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 foreclosure-wracked Chicago communities.
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Chicago NSP update
- Mar 11, 2010
At a public hearing in Chicago City Council chambers on March 11, 2010, Ellen Sahli, First Deputy Commissioner of the Department of Community Development, provided a status report of Chicago's…
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Laying a stable foundation
- John McCarron, Feb 6, 2010
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 Ave.…