Preservation of Affordable Housing (POAH), a 10-year old national non-profit developer specializing in housing preservation, became active in the City of Chicago in 2007 at the request of tenants of Grove Parc Plaza housing development in the Woodlawn neighborhood. Taking over the financially troubled complex, POAH initiated a multi-phase project for housing redevelopment and formulated a plan for comprehensive neighborhood revitalization. After the redevelopment process was underway, POAH received a Choice Neighborhoods grant of $30 million from HUD that is associated with a total direct investment of $272 million (which excludes some of the first phase\u2019s investment due to timing).<\/p>\n
Choice Neighborhoods Initiative, POAH and the City committed not only to improving housing outcomes for the existing residents, but also to implementing case management and addressing broader neighborhood needs. Part of the \u201cNeighborhood\u201d component calls for the creation of a Small Building Fund to promote home-ownership and address the stock of vacant buildings in the neighborhood.<\/p>\n
<\u2013 Previous Section<\/a>\u00a0|\u00a0Next Section \u2013><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Preservation of Affordable Housing (POAH) is the lead-implementation entity for the Choice Grant, and thus has been leading conversations on how to formulate the Small Building Initiative. Continue reading