Four local development groups in
underserved communities will be the recipients of $2.5 million each thanks to
the generosity of Starbucks. The US
coffee company and coffeehouse chain is hoping that this will result in
economic growth for the area. Awardees are: Accion Chicago, Chicago Community
Loan Fund (CCLF), Local Initiatives Support Corporation (LISC), and the International
This money will be used to finance
500+ loans for small businesses in Chicago via the Community Development Financial
Institutions (CDFI). Struggling businesses will be able to get advice and in
some cases financial help – resources they could not have accessed otherwise
via traditional sources such as financial institutions. According to Kevin Johnson, Starbucks CEO:
the pursuit of profit is not in conflict with the pursuit of doing good. We
know that our business performs at its best when the communities we serve are
thriving. This sustained investment will provide borrowers who often face
barriers with access to capital and mentorship to grow their business and
create more jobs in Chicago.”
not the first corporation to offer such help.
A little over a year ago JPMorgan Chase & Co. invested $10million
for the provision of properties for black business development in the Windy
What was once the Church of the
Epiphany – located at 201 S. Ashland Avenue – will soon become a
multi-dimensional space used for a variety of cultural events. This will become one of Chicago’s largest
venues for cultural activities. It is
also regarded as a landmark in the region.
“Chicago’s Church of the Epiphany was an historic landmark, built back in the mid-nineteenth century and designed by Burling and Whitehouse which was the famous architectural firm made famous by Francis Whitehouse,” explains Moshe Victor Keinig, a retired architect now living in Israel.
“I remember once seeing the church and being almost awe-struck by stone that was used and indeed how they were used. I learned later that they had been imported from Lake Superior and were irregularly placed on the building,” Keinig adds.
Today, that same property is in the
hands of David Chase and his wife Kimberly Rachal who made the purchase and are
committed to preserving the property along with the buildings next to it. Once up and running, it will feature a
courtyard, three very different spaces in which to hold events as well as
additional areas that will aim to bolster arts and culture.
Rather than it just remaining vacant
(as has been for a while) it will be known as the Epiphany Center for the Arts
and become a great location for community gatherings, etc.
In this short clip put together by ABC 7 Chicago, we catch a glimpse into the renovation of the city’s huge $800m renovation. The results, are phenomenal. As the report says, “We took these raw materials and created something really special.” Well that sounds like good, sound green practice to us!