Land trust stakes claim in Humboldt

• Ed Finkel
• December 6, 2007

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Key players in the First Community Land Trust of Chicago threw dirt with golden shovels at a groundbreaking ceremony Nov. 19, as workers about 100 feet behind them poured concrete for the first three homes, sited on Hamlin Street in West Humboldt Park.

 Those 3-bedroom, 2 1/2-bath, 1,490-square-foot homes have been purchased by families earning as little as $35,000 per year and with $2,500 down. Seven others just like them soon will be constructed at scattered sites nearby.

“This is a glorious day for us,” said Jimmy Simmons, president of West Humboldt Park Homes LLC, the entity formed to oversee the construction process. “This part of the city hasn’t seen development for a long time. … Let’s get this money out there and make this a thriving community that we can all be proud of.”

“This is a long time in the making,” said Ald. Walter Burnett (27th). “We saw it as an opportunity to not only get affordable housing into the community … but also to bring the community together and to bring some job opportunities.”

Burnett said the land trust would help “keep those people in the community whose incomes aren’t rising as fast as property values in the city of Chicago,” a comment that echoed a key theme in the 2004 Humboldt Park quality-of-life task force report, “Staking Our Claim,” in which the alderman and his office participated closely.

The homes will cost less than $175,000 – the exact price depends upon the subsidies for which each buyer qualifies -- and because the trust will retain ownership of the land underneath them, the homes’ prices will not accelerate as rapidly once the housing market begins to appreciate again, keeping them affordable in the future, as well.

“We’re able to reach people who might not otherwise be able to afford a home,” said Bill Eager, deputy commissioner for development services at the city’s Department of Housing. “We think it’s a great way to preserve long-term affordability.”

Voting members on the land trust board all will be homeowners in the community – five land trust residents and five others, said Bill Howard, president of both the land trust and the West Humboldt Park Family and Community Development Council, which spearheaded the effort.

“They will forever have a stake in saying how the community develops,” he said. “The non-pecuniary benefits of this are missed by many people.”

Howard said many players have helped fund the effort, including the city DOH, Burnett’s office, the Illinois Housing Development Authority, LISC/Chicago and IFF (previously known as the Illinois Facilities Fund). He also recognized developer Prim-Lawrence Consulting and construction firm ERA Valdivia Contractors, among several other contributors.

In addition to newly constructed subsidized housing, land trust residents will receive assistance in becoming mortgage-credit certified and the opportunity to increase their savings by enrolling in a savings program through the land trust.

Owners of the first three homes will be Maria Viera, Raul and Anna Echevarria, and Jorge and Maria Amaro. “I’m very happy for this project, to help my family. I’m very happy to stay in this neighborhood,” Viera said. “Everyone is working hard for a house. I’m very appreciative of everybody who worked on this project.”

Raul Echevarria, who’s about to leave his long-time position as NCP community organizer with Humboldt Park lead agency Bickerdike Redevelopment Corp., said he and his wife had looked at various opportunities but found the land trust’s financing mechanisms made it more affordable.

“We weighed the options and said: ‘When are we going to get another opportunity to afford a single-family house relatively close to where we want to live?’ ” he said.

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