Giving Compass’ Take:
· Urban Institute talks with Cindy Moelis, presidents of the Pritzker Traubert Foundation, about the Chicago Prize and PTF’s motivations and goals to boost neighborhood revitalization.
· What is the Chicago Prize and what are the goals of this initiative? How will it help boost neighborhood revitalization?
· Interested in reading more? Check out this article showing how Detroit became a model for urban renewal and neighborhood revitalization.
Chicago has long been a leader in analyzing complex urban problems and testing innovative community development strategies to revitalize disinvested neighborhoods. But like in other major US cities, Chicago’s strides have yet to overcome the barriers that prevent many neighborhoods and residents from reaching their full potential.
Unequal access to private capital is a major barrier to inclusive economic opportunity. To address this barrier, the Pritzker Traubert Foundation (PTF) recently launched the Chicago Prize, a philanthropic challenge that will award a $10 million grant to a community-led initiative that invests in the physical revitalization of neighborhoods on the South and West Sides of Chicago. The Chicago Prize will support physical revitalization projects that can strengthen civic infrastructureand catalyze economic activity, improving the lives of current residents.
A recent Urban Institute research report offers guidance for those involved with the Chicago Prize, synthesizing years of place-based revitalization practice and research into a few key principles that elevate the importance of building civic infrastructure as a core element of place-based initiatives.
Read the full article about boosting neighborhood revitalization by Aaron Shroyer and Joseph Schilling at Urban Institute.
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