A new joint program of the University of Chicago and the Community Investment Corporation is providing financing for independent, hands-on developers to rehabilitate multifamily apartment buildings in neighborhoods near the University, including Woodlawn, Washington Park, South Shore and the Quad Communities of Grand Boulevard, Kenwood, Oakland and Douglas. The $10 million University of Chicago/CIC program supports the ongoing development of strong mixed-income communities on Chicago’s South Side with a goal of preserving approximately 190 housing units currently at risk of being torn down or converted into condominiums. CIC is a major nonprofit mortgage lender funded by 47 Chicago banks. For more information, contact a CIC loan officer at 312-258-0070.