We The People
A Community Investment Vehicle
Mural Title: You, Me, We are the Key | Muralist: Max Sansing | Commissioned by: Southeast Chicago Chamber of Commerce
We The People is a radical new approach to redeveloping South Shore that puts control in the hands of local residents. It was formed by a collective of South Shore residents who are also business and property owners in the neighborhood.
Through shared ownership and community-informed redevelopment, this ongoing revitalization project will help ensure that our fellow South Shore residents gain and retain meaningful equity in our neighborhood. We will start with the revitalization of assets in and around the 71st Street corridor, focusing on targeted real estate acquisitions and development of income-producing properties. The Community Investment Vehicle (CIV) will be our tool for investing in our neighborhood and provide an avenue for other collaborative investment opportunities. We hope the future of South Shore includes not only shared ownership, but also increased individual wealth and expanded knowledge of real estate investment.
Our core objectives include:
- Providing greater control over community commercial assets
- Reducing the number of vacant, blighted and troubled buildings in South Shore
- Creating opportunities for ownership and community investments
- Increasing jobs
- Attracting new businesses
- Increasing small business cash-flow and credit
- Circulating dollars
- Closing retail gaps
- Fostering a sense of community through collaboration
The time is now to build on South Shore’s strengths, by harnessing the momentum of new development and investment activity around the Obama Presidential Center and other transformational projects including the Regal Mile Studio and Thrive Exchange. Directly along 71st Street, there is a host of resident and entrepreneur-led development projects including Bennett Place, Studio Yogi, Slab BBQ expansion, Nafsi, Galley Culinary Studio and Inner City Entertainment.
Collectively, these projects are bringing more than $600M in investment to the greater South Shore area. Let’s make sure that the people who call South Shore home get a voice – and a stake – in the exciting progress bubbling up on the South Side.
About
Community Investment Vehicles (CIVs)
We The People is the name of our Community Investment Vehicle (CIV). CIVs are a legal structure that allows residents to pool their financial resources to buy and control neighborhood real estate assets, such as shopping centers or multi-family housing. “CIVs are a form of community crowdfunding.
CIVs are an alternative to traditional real estate development and financing, which is often initiated by “outsider” developers that may not be familiar with neighborhood goals – but have access to capital from large financial institutions and investors. In short, CIVs have the potential to advance neighborhood-driven development goals through alternative sources of funding and financing.
Learn more about CIVs – and download a CIV Playbook & Assessment Tool – from our partners at Community Desk Chicago.
Steering Committee
The Steering Committee is comprised of diverse South Shore residents that have invested in the growth and well-being of South Shore. They each bring Their job is to define the north star of the We The People CIV, serving as evaluators, facilitators, and decision-makers based on feedback from the community stakeholders.
- Tonya Trice, Executive Director, South Shore Chamber Community Development Corporation
- Anton Seals, Chairman, South Shore Works
- Tyriece Kennedy, Owner, Galley Culinary Studio
- Michael Kelley, Organizer, Bennett Place
- Leslie Cain, President, Bryn Mawr Institute
- Gerald Williams, Developer, MOT Development
- Julia Perkins, Owner, Studio Yogi
To ensure a successful planning and design process, the Steering Committee also draws upon a group of professional advisors with experience in topics such as tax/accounting, legal compliance, commercial real estate, financing, and property management.
take the
survey!
Don't miss this chance to let your voice be heard and help to determine what happens in your commmunity!
get involved?
We are currently recruiting new members for our CIV Committee. To get involved or learn more about the We the People project please provide your email address below.
"*" indicates required fields
South Shore Residents We Want to Hear From You!!!
We the People is a radical new approach to redeveloping South Shore that puts control in the hands of local residents. We are working to design a Community Investment Vehicle (CIV) to meet our shared development goals, and we need input from as many South Shore residents as possible.