In 2013, Chicago Public Schools (CPS) made the unprecedented decision to close 50 schools at once throughout the city in an effort to balance the budget. It was the largest mass closing of schools in one city in our nation’s history. No other city had ever attempted such an undertaking.

This decision left 50 abandoned buildings; structures that were once teeming with children and activity went silent. More than 17,000 students and 1,500 staff were relocated to other areas of the city with the promise of better conditions than the schools they left. There were also plans to sell the 50 vacant schools and put the money back into the school district.

Out of the 50 schools closed, only a few have been sold, and those were mainly on the north side.

In the Austin community, four schools were shuttered, but one recently found a new purpose. The former Emmet Elementary School at 5500 W. Madison will now be the ASPIRE Center.

ASPIRE Center will occupy a three-acre lot and is being developed by Westside Health Authority (WHA) and Austin Coming Together (ACT). It is one phase of the ASPIRE Initiative that will include financial counseling, employment services, job preparedness and vocational training. Once completed, it will serve as an advanced manufacturing training center, a small company incubator, a community hub, and event space.

CCLF provided a $3,333,333 loan to help bridge a state grant and leverage New Markets Tax Credits. Others who financed this project were IFF and Enterprise Community Loan Fund.

In addition to the existing structure, there will be a 2-story, 7,835 square feet addition. The total building area is expected to be 76,605 square feet. Tenants will include BMO and the Jane Adams Resource Center.

This development will be an anchor in this area of Austin and will be the catalyst for growth and revitalization of the community. “CCLF is very excited to see the ASPIRE project unfold since its connection began offering technical assistance in 2018,” explained Wendell Harris, CCLF Vice President of Lending Operations. “CCLF has an ongoing relationship that needs to deepen with both the West Side Health Authority and Austin Coming Together. Both organizations bring huge impact. Most importantly, they have true partnerships with the people in that community.”