Community Benefits
Chicago Community Capital Fund has the capacity to leverage its equity to preserve or create more than 4,000 units of affordable housing. The Fund’s investments provide direct benefits to residents, help stimulate community development, encourage the sustainable growth of the region, and draw previously excluded people and areas into the wealth creation process.
Healthier Households
Individuals and families that aren’t over-burdened by housing costs tend to be healthier and more productive members of the community. They are better able to afford essential food and medical expenses, as well as needed clothing and school supplies. Parents who don’t have to work a second or third job to make ends meet have more time to devote to their children. The Fund’s focus on the preservation and creation of affordable housing near job centers also helps ease household budgets by reducing transportation costs.
Healthier Communities
The availability of affordable housing helps support the local economy and stimulates community development. Investing in multi-family property encourages neighboring owners to improve their properties and often attracts additional investment activity. Area merchants benefit, as people who spend less on housing have more to spend on other goods and services. Affordable housing also provides an important labor pool for local businesses. Each of these elements supports an expansion of the local tax base, which ensures the provision of needed public services and amenities.
Smart Growth
Meeting the demand for affordable housing by preserving existing properties and locating new development close to job centers and public transportation promotes sustainable growth in the Chicago area. The re-use and renovation of existing housing helps reduce urban sprawl and conserves public resources. Housing that is close to work or public transportation also eases the strain on the area’s infrastructure, reduces environmentally harmful commutes, and helps lower employee absenteeism and turnover.