In this economy, it takes creativity, collaboration, and patience to make affordable homeownership a reality. Those are precisely the qualities driving Core City, a LISC Toledo program that acquires, renovates, and sells vacant and blighted properties for homeownership. Learn how we’ve teamed up with Owens Corning to bring homeownership within reach for more Toledo residents.
Neighborhoods adjacent to downtown Toledo have seen a dramatic increase in vacant and blighted properties over the last decade. While some may see the additional investment and work yet to be done to address decades of disinvestment, LISC Toledo and its partners see hope, progress, and opportunity, particularly for families of color looking to build generational wealth through homeownership.
The challenge: low property values mean renovation projects are not profitable, so private sector activity on its own is limited. The solution: The Core City Program, a LISC Toledo initiative that brings together private and public partners to fill the gap between what it costs to acquire, renovate, and sell a property for homeownership.
Owens Corning is a key funder of Core City, which has created 39 new homeowners to date: 75% are people of color and the average household income is $47,000. The homeowners are building equity and putting down roots, eliminating blight in their communities one house at a time.
In this video, learn more about how we’ve teamed up with Owens Corning to bring homeownership within reach for more Toledo residents.
