Episode 12: Closing the Homeownership Gap

Homeownership is one of the most important vehicles for building generational wealth and helping families achieve economic stability; however, Black and Latinx families often face barriers to accessing and maintaining homeownership. Since The Chicago Community Trust launched its strategic focus on closing the Chicago region’s racial and ethnic wealth gap in 2019, affordable and equitable homeownership has been a key priority.  

Connecting Capital and Community (3C) is a community-driven initiative housed at the Trust that collaborates with partners across multiple sectors to test innovative solutions that will increase Black and Latinx homeownership in East Garfield Park and Humboldt Park. Learnings from 3C’s work have also influenced the Trust’s Advancing Innovative Homeownership Financing Solutions grant program that funds partnerships between CDFIs or credit unions and housing organizations to develop innovative financial products that strengthen the purchasing power of low-to-moderate-income borrowers. 

In this episode of Trust Talks, we will explore the work of 3C, how community-centered collaboration can help close the homeownership gap, and what role philanthropy plays in supporting these efforts.  This episode is hosted by Shandra Richardson, director of strategic initiatives for The Chicago Community Trust, and features Lynnette McRae, program director for Connecting Capital and Community (3C); Joanna Trotter, executive director of global philanthropy at JPMorgan Chase; Mindy Rueden, program director at Habitat for Humanity Chicago; and Tim Swanson, founder of Inherent L3C.

Production by Juneteenth Productions. The podcast was recorded at the Sound Foundation.