The Center for Community Investment (CCI) is undertaking a multi-year
initiative, Connecting Capital and Community (3C), designed
to 1) introduce the capital
to multi-sector teams in six major American cities, including Chicago,
and 2) help teams apply the framework to enhance and scale their
affordable housing efforts, further develop their community investment
ecosystems, and, ultimately, enable low-income, Black, Latinx, Asian,
and Native residents to thrive. The capital absorption
framework helps communities access the investments needed for
people to have the chance to live, work, and learn in healthy homes
In Chicago, The Chicago Community Trust will leverage its 3C
partnership to develop a homeownership strategy in majority Black and
Latinx communities. The 3C partnership will focus on neighborhoods
with strong local assets and a preponderance of vacant parcels and
buildings. Also, 3C Chicago will build the capacity of Black and
Latinx real estate developers, contractors and pre-development service
providers to build these units and grow their businesses. 3C Chicago
will help create individual wealth through its focus on homeowners and
real estate developers and community wealth through infill development
at scale. At the end of the initiative, the infill strategy should be
sufficiently integrated into Chicago’s development ecosystem.
In Chicago and the other 3C cities, a diverse team of stakeholders
from multiple organizations will work together to achieve an ambitious
housing result that goes beyond individual projects to system changes
aimed at improving the structure of opportunity in their community.
The 3C initiative will support teams to act and learn simultaneously to:
- Work concurrently to sharpen community
priorities, develop and execute a pipeline
of investable opportunities, and strengthen policies, practices,
collaborative platforms, and other elements of the enabling
environment to facilitate achievement of community housing
goals, while centering racial equity,
- Attract and leverage capital for investment in a pipeline that
advances community housing goals,
- Recognize and remedy the inequities at the core of the housing ecosystem,
- Acquire and sharpen relevant community investment, leadership, and
racial equity content and skills, and
- Share learning and build relationships to support accountability
These aims will be accomplished through intensive learning
opportunities for teams, smaller sessions for team leads, and
one-to-one adaptive coaching, team coaching, and technical assistance
customized for each team’s circumstances, opportunities, and challenges.
- Work with The Chicago Community Trust, the Trust’s Programmatic
Affiliates and CCI to assemble teams of stakeholders with the needed
capacities and relationships to achieve the targeted result.
- Develop an enduring 3C model for the Chicago market that can be
integrated into Chicago’s housing and development ecosystem at the
close of the 3-year 3C initiative.
- Develop and implement a strategy to pilot the 3C model, including
creating a neighborhood typology, lining up partnerships,
cultivating near-term investment opportunities, facilitating next
steps in pipeline development, coordinating efforts to raise
capital, and collecting key data to inform and support ongoing
pipeline development and execution.
- Plan, secure and manage the necessary collaborative relationships
to build the model and advance the strategy, including technical
assistance providers financial institutions, neighborhood
organizations, foundations, investors, housing developers, real
estate professionals, government agencies, internal staff at The
Chicago Community Trust. and other critical stakeholders.
- Develop and staff an Advisory Board to provide oversight and
guidance for the initiative.
- Assist in fundraising for additional resources for the initiative
- Develop a communications, reporting, and accountability structure
to communicate the purpose of 3C for multiple audiences and to
report on its progress.
- Serve as the primary contact for CCI staff and support team.
This position will work remotely until the Centers for Disease
Control, Illinois Department of Public Health, and Trust leadership
deem it safe to return to the office.
- Master’s degree in community development, real estate development
and finance, urban and regional planning, public policy or a related
field. Exceptional candidates with seven years of experience without
a master’s degree will also be considered
- Minimum five to seven years’ experience delivering results in the
community and relevant sectors, including the local housing sector,
the local real estate development sector and with associated stakeholders
- At least 7 years’ experience with housing, real estate and/or
community development and finance, and willingness to explore new
ways to finance, preserve, and develop housing and increase
- Experience with financial capital, capital stacking and
development deal flow
- A well-developed network of relationships and deep understanding
of the Chicago finance, real estate and housing ecosystems
- Comfort and competency with working through adaptive challenges
where solutions are not yet developed
- Ability to strengthen ideas and build momentum by leveraging
existing programs/initiatives, resources, structures and policies
- Experience communicating effectively and working collaboratively
with diverse people and communities, including residents, private
and nonprofit real estate developers, philanthropy, the public
sector, institutional leaders, the finance sector, and investors
- Ability to collaboratively lead through networking, facilitating,
- Experience advancing policy and or structural changes in the
public or private sectors
- Strong orientation and commitment to racial equity, equitable
results, and community voice
- Excellent written and verbal communication skills
- Ability to self-start with input from diverse interests
- Ability to synthesize and follow through on the guidance of an
- Connect local efforts to the efforts in cities across the country,
including other 3C cities
- Strong orientation to results, systems thinking, and learning
History of The Chicago Community Trust
The Chicago Community Trust is a community foundation dedicated to
advancing metropolitan Chicago and improving the lives of the people
who call it home. The Trust serves as a philanthropic partner,
connecting the generosity of donors with community needs. Today,
following the creation of a new strategic plan in 2018, the Trust
stands committed to addressing Chicago’s legacy of systemic inequity
and closing the racial wealth gap. With assets of approximately $3
billion, the Trust in partnership with its donors distributes more
than $400 million in grants each year. Our unwavering mission is to
mobilize resources, people, organizations and ideas in support of this
vision for a truly equitable, connected and thriving community.
The Trust was founded in 1915 by Norman and Albert Harris, father and
son duo of the Harris (now BMO Harris) bank family. The Chicago
Community Trust was the fourth community foundation ever created.
There are now 750 community foundations across Canada and the US.
Since 1915, the Trust has been part of nearly every major civic
milestone of the Chicago region. From the creation of Millennium Park
and Chicago’s Harris Theater to Leadership Greater Chicago and Chicago
Urban League, the Trust has worked to support the people and
organizations that have made Chicago a world class city.
The Trust Team seeks to match the passion and commitment of donors,
grantees, residents and community leader that continue to work
tirelessly to make this City one where all have the opportunity to
realize their dreams.
The Trust is also changing the way we operate from a traditional
grantmaker to a transformative changemaker. As such, all aspects of
the organization are moving towards advancing change through a range
of approaches, including supporting programs, conducting and analyzing
research, driving collaboration, engaging funders, advancing policy,
and moving markets and investments towards social change. This work is
grounded in principles of equity and informed by individuals
disproportionately impacted by systemic racism.