CHA announces new “Restore Home” Initiative

Lawndale News Chicago's Bilingual Newspaper - Business

The Chicago Housing Authority (CHA) announced the new Restore Home initiative at the Board of Commissioners meeting on Tuesday, November 21, 2023. The initiative is part of the agency’s proposed 2024 budget and capital plan, which will be considered at a special board meeting in December. Under Restore Home, CHA will invest up to $50 million in 2024 to renovate and rehabilitate vacant buildings in the small and medium-sized apartment’s portfolio (commonly known as the agency’s “scattered sites.”) Approximately three dozen small and medium-sized vacant apartment buildings around the city will be targeted for renovation, with more than 175 units brought back into leasable condition over the next twelve to eighteen months. As part of Restore Home, CHA plans to renovate approximately 40 single-family homes that are part of the scattered sites portfolio and make them available for affordable homeownership opportunities. (CHA will still maintain a portfolio of approximately 145 single-family homes.) Additional information on this effort will be announced in 2024. This effort will complement the agency’s recently announced Down Payment Assistance program, which provides another pathway for CHA residents and other low-income Chicagoans to achieve their homeownership dreams.

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