Illinois Attorney General Lisa Madigan announced Tuesday $1.9 million—most of which comes from the state’s portion of a federal settlement with banks over mortgage fraud—will go to rehab historic homes in Chicago’s Pullman neighborhood. Some $1.5 million of the money comes from a 2014 settlement with mortgage lenders including JPMorgan Chase, Wells Fargo, Citi, Bank of America and Ally over fraudulent behavior they are alleged to have encouraged during the lead-up to the 2008 financial crisis. Most of the money will go toward renovating homes in the Far South Side neighborhood, which was created as a company town for Pullman’s once-ubiquitous traincars. The city will kick in an additional $400,000 to help finance the purchase of rehabbed homes as part of an “affordable historic home revitalization initiative,” according to Mayor Rahm Emanuel’s office. That effort is part of a larger state program to battle blight in communities with lots of vacant and abandoned properties. Pullman has seen new development in recent years, including a contentious Walmart in 2010, and ongoing work from the Historic Pullman Foundation to preserve the neighborhood’s architectural heritage. Local preservationists are even hoping to win National Park status for the neighborhood—the National Park Service said late last year that the district “appears likely to meet the national significance and suitability criteria” for further study.
Posts tagged with "Bank of America":
The building's been up and running for two years, but One Bryant Park wasn't finished finished until last Thursday night, when the opening party was held in the cavernous lobby and the U.S. Green Building Council awarded the Dursts with the building's LEED Platinum plaque. Jody Durst kicked things off, thanking everyone for coming, all the people who made the building possible, and the like before introducing Rick Cook, the lead designer for Cook + Fox on the penguin-shaped tower. Before a crowd of a few hundred bankers, real estate types, and other assorted Midtown workadays, Cook probably gave the largest architectural lecture of his career. Cook talked about how important it was to make the building natural and humane, how important it is that the the first thing anyone experiences when they enter the building is nature, granted in the form of wood-inlaid handles on the revolving door. There's the overhanging ceiling that draws the eye out into the park, the fossils scattered throughout the Jerusalem stone tiles on the wall. The crowd's heads swung back-and-forth from one sustainable feature to the next, mouths at once smiling and agape. (To go even deeper inside the building, check out this cool tour our pals at the Observer recently took.) Cook even quoted from Genesis before celebrating the freedom he and his team had had while working on the project: "When we were brought on, they didn't ask for big and green. Instead, the challenge was how do you design at scale in an American city today." He got about the most applause we've ever heard for an architect anywhere. Next up was Al Gore, who mentioned what a big fan he was of the mayor, also in attendance and about to speak. Gore happens to be a tenant in the building, as the offices of his private equity firm are located there, and he mentioned that they had just received their LEED Platinum for interiors certification that day, and entreating everyone to do the same while reciting the old saw about buildings eating up 30-plus percent of the world's energy. Then, the head of anchor tenant Bank of America's sustainability efforts got up for some back patting and to announce a $125,000 grant to fund 100 gardens at public schools in the city, part of a new initiative. Then came the plaque, and with the speechifying done, a champagne toast and back to our "locally sourced" mojitos.