MPC Roundtable—Two Anchor Institutions, One Story of Revitalization through Housing Investment

One is an academic institution in the heart of the city of Chicago; the other is a manufacturing company located 40 miles northwest in suburban Carpentersville, Ill., population 38,062. Though it may seem unlikely, University of Chicago and OTTO Engineering have some things in common: Both of these large employers are anchoring community redevelopment by investing in their local housing markets.
At this MPC Roundtable, University of Chicago’s Derek Douglas, vice president, civic engagement; and OTTO Engineering President Tom Roeser will compare and contrast how their unique housing reinvestment strategies support the local economy. UofC has offered an employer-assisted housing program for nearly 10 years, providing housing counseling and downpayment assistance to employees who chose to move near campus. Through OTTO Homes, OTTO Engineering buys, rehabilitates and sells homes in Carpentersville, giving preference and incentives to local employees who want to become homeowners.
Sponsored by Hyde Park Bank & Trust, a Wintrust Community Bank.