We are excited to announce our partnership with Lawndale Christian Development Corporation (“LCDC”). LCDC is a well-respected, non-profit community development corporation committed to improving the lives of North Lawndale residents by providing affordable housing, addressing economic challenges, promoting homeownership, and facilitating community organizing.
First Eagle Bank provided a $600,000, 0% interest rate loan helping finance the construction of two single-family homes at 1651 and 1653 S. Avers in Chicago’s North Lawndale neighborhood.
“We are honored to work with First Eagle Bank to build model homes for our Reclaiming Lawndale campaign,” says LCDC Executive Director Richard Townsell. In our 35 years of doing very place-based community development, this is an unusual transaction that only the most mission minded institutions would be willing to do. First Eagle is taking the bold step of putting their resources to take one of our country’s most pressing issues: doing community development without displacement. These homes represent hope, wealth building and legacy for working families that “the market” does not build for in our community and communities like ours around the country. Bravo. “
The above homes will serve as model homes for the Reclaiming Communities Campaign, which will build 250 new homes for buyers as their principal residence in North Lawndale. LCDC is one of the organizations participating in this City of Chicago-backed campaign, which aims to create ‘communities of opportunity’ to release vacancy, violence, and decades of disinvestment with affordable homes and opportunities for families to build generational wealth and equity.We’re delighted to play a small but vital role in this initiative. This partnership with LCDC will create and retain homeownership in an area that has, for years, experienced disinvestment.