Neighborhood House and the Peoria Opportunities Foundation are collaborating on "Reclaim Peoria," an initiative to rehabilitate up to seven disinvested homes on Peoria’s South Side. The project aims to transform these properties into high-quality, affordable homes for low-income, first-time homebuyers, fostering stability and community revitalization.
Key Takeaways
- The "Reclaim Peoria" initiative will renovate existing homes in the 61605 ZIP code.
- The goal is to provide affordable homeownership opportunities for low-income families.
- Funding includes a $1 million Health Equity Homeownership grant from the Peoria City/County Health Department.
- The project seeks to address the city’s housing crisis and increase neighborhood stability.
Project Details and Goals
The "Reclaim Peoria" project focuses on purchasing and renovating existing homes in disinvested areas of the South Side, specifically targeting the 61605 ZIP code. The renovated houses will then be offered to first-time homebuyers who meet specific income and mortgage guidelines. This initiative is designed not only to improve housing stock but also to foster greater stability and civic engagement within the community.
Julie Bonar, president and CEO of Neighborhood House, emphasized the collaborative spirit, stating, "When Peoria comes together with purpose, meaningful change is possible." The project aims to help families achieve homeownership, which has multi-faceted benefits, including increased stability, improved health outcomes, and enhanced educational opportunities for children.
Progress and Funding
The initiative has already purchased five properties, with renovations underway on one home located in the 2600 block of West Marquette Street. This property is slated to be on the market by March. Irina Riggenbach, executive director of Peoria Opportunities Foundation, indicated that renovations on two more houses will commence shortly, with each taking approximately five months to complete.
The project is significantly supported by a Health Equity Homeownership grant of about $1 million awarded by the Peoria City/County Health Department. The City of Peoria is also contributing to the Home Equity Fund, underscoring a commitment to addressing the city’s housing challenges.
Community Impact and Future Vision
Mayor Rita Ali highlighted the project’s importance in tackling Peoria’s housing crisis, noting the shortage of affordable, quality homes. "Providing safe quality and affordable housing is a priority for the City of Peoria," she stated.
While acknowledging the positive impact of renovating seven homes, Peoria Opportunities Foundation board president Matt Gross expressed a vision for larger-scale transformation. "Seven homes, or 18 homes, is not enough to transform a community," Gross remarked. "We need a bigger vision than that. Imagine a vision: if we can do seven homes, why can’t we do 700?"
Neighborhood House, with its 130-year history on the South Side, brings deep community trust and connections to the partnership. Peoria Opportunities Foundation contributes renovation and development expertise. Together, they aim to create a sustainable model for revitalizing neighborhoods and expanding homeownership opportunities.
