Chicago Community Trust Announces Partnership to Make Homeownership More Equitable

Owning a home is the single largest source of wealth for most American households. Yet the racial and ethnic wealth gaps that exist in communities like Chicago are preventing many individuals and families from becoming homeowners.

That is why the Chicago Community Trust – in partnership with the Connecting Capital and Community (3C) initiative – is working to eliminate these barriers and make homeownership and real estate development more equitable for Black and Latinx communities.

The Trust recently announced a new, three-year, multi-sector partnership that will prioritize housing stability and affordability and improve homeownership opportunities for these targeted communities.

The effort is led by the Center for Community Investment and is being kickstarted by a $1.95 million grant from JPMorgan Chase.

By leveraging vacant, abandoned land, The Trust will collaborate with a network of partners to expand access to affordable homeownership.

The Trust hopes the initiative will be used as a model to close racial wealth gaps and make homeownership more affordable across other communities.