$10 million Chicago Prize finalists want to revitalize 6 South, West side neighborhoods
Teams from six South and West side neighborhoods are in the running for $10 million to fund a variety of proposals — from clean-energy projects to affordable housing initiatives — that would create economic opportunities in their areas.
More than 80 teams pitched their project ideas to the Pritzker Traubert Foundation for its Chicago Prize Challenge. The competition’s six finalists — who all won $100,000 planning grants — were announced Wednesday evening at the Hatchery in East Garfield Park.
“We invited every community on the South and West sides to tell us what they think should happen in their neighborhoods,” said Bryan Traubert, a foundation trustee and husband of former Commerce Secretary Penny Pritzker. “We wanted to be more equitable, expand our reach and be open to new ideas and organizations we didn’t know and haven’t worked with before.”To Article
One of these groups will get $10 million to help boost a disadvantaged neighborhood
The Pritzker Traubert Foundation today identified six finalists for its Chicago Prize, a competition that it announced in April as an effort to invest in the neighborhoods’ economic future. A jury selected the six, which will now each receive $100,000 to work on their proposals, from about 80 applicants.
“We know that talent is universal, but opportunity is not,” former U.S. Secretary of Commerce Penny Pritzker told Crain’s in advance of the announcement. She and her husband, Bryan Traubert, a physician, head the Pritzker Traubert Foundation. (Gov. J.B. Pritzker is Penny Pritzker’s brother.) “We want to bring private capital into these underinvested neighborhoods, to give folks the opportunity to use their extraordinary talent in their neighborhoods. We want them to have the opportunity to say what their neighborhood needs, not (hear it) from some glass tower in the Loop.”To Article
Finalists Announced for the $10 Million Chicago Prize
Six community teams have been named as Finalists for the Chicago Prize, a single $10 million grant to a highly collaborative project that uses physical development and investment in community and the local economy to improve the well-being of residents on Chicago’s South and/or West Side. The Finalists were announced and recognized at an event at The Hatchery on Chicago’s West Side.
The Finalists will each receive $100,000 and technical assistance to further refine their plan and make their case for the $10 million grant.
The Finalist projects are:
- Catalytic Development of Auburn Gresham (Auburn Gresham)
- Economic Equity and Opportunity via A Little Village Community Hub (South Lawndale)
- Go Green on Racine: An Englewood Rising Project (West Englewood and Englewood)
- Now Is the Time: Advancing North Lawndale Together (North Lawndale)
- The Aspire Initiative: Building A Stronger Cradle-to-Career Pipeline in Austin (Austin)
- Working Together to Reinvigorate South Chicago (South Chicago)
Getting to Go: Chicago Prize Evaluation Report
In just under ten months, the Pritzker Traubert Foundation (PTF) will announce the winner of the Chicago Prize, created to stimulate local economic activity, strengthen community and social cohesion, and enhance the well-being and economic mobility to Chicago’s South and West Sides. PTF is working alongside Susan Lloyd of Lloyd Consulting to help document the process of the Chicago Prize and capture what PTF and other foundations can learn from the competition. Throughout the duration of the Chicago Prize, Susan will be delivering reports that give an inside look on the development and implementation of the Chicago Prize. Read the first report today, which outlines the goals, constituents, and design of the competition.To Article
Reinventing Cities: Penny at the Aspen Ideas Festival
Last month, Penny was invited to speak at the Aspen Ideas Festival—a festival held for leaders from across the globe and disciplines to present the ideas and issues that are impacting our lives and what they are doing to combat them. Throughout her presentations, Penny primarily focused on one issue that the city of Chicago is facing: falling behind in the technology race. Despite being the third largest city in the nation and being home to 35 of the Fortune 500 companies, “Chicago is punching below its weight as a tier one tech city” said the former Secretary of Commerce. The Pritzker Traubert Foundation is preparing for the future of work and investing in the economic future of communities, and has launched the Chicago Prize, a 10 million grant for a community initiative that will promote economic development in Chicago’s South and West Sides. Watch Penny’s session to learn more.To Video
VIDEO: Chicago Prize Q&A Webinar
We invited registered applicants of the Chicago Prize to join us for an informational Q&A webinar on Tuesday, July 2. Our team shared more information about the initiative and answered lots of questions.
If you have any further questions after viewing the webinar, please email email@example.com. Please note that in order to ensure fairness and transparency, we are not able to share specific feedback on your proposed initiatives prior to the submission deadline.
Thanks for your interest in the Chicago Prize and we look forward to learning more about your efforts.To Video
The Zip Code Reality: Where You Live Matters
Penny joined industry leaders at the Aspen Ideas Festival to discuss geographic opportunity across the US. Learn more about and watch the recorded session below.To Video
Registration closes on July 16 for Chicago Prize, a $10 million grant competition to invest in Chicago’s South and/or West Side
“The Chicago Prize will award a single, $10 million grant to a highly collaborative initiative that uses physical development to spur economic activity, strengthen civic infrastructure, and improve the safety, well-being, and economic mobility of residents. Civic infrastructure refers to the policies, programs, practices and processes that connect physical revitalization with neighborhoods’ customs, culture, networks and relationships. Research shows that physical development, whether affordable housing, mixed-use development, or community centers, can be more of a cornerstone for addressing community needs and creating systemic change when civic infrastructure is also considered.”To Article
The $10 Million “Chicago Prize” Seeks To Boost Neighborhood Revitalization
“Unequal access to private capital is a major barrier to inclusive economic opportunity. To address this barrier, the Pritzker Traubert Foundation (PTF) recently launched the Chicago Prize, a philanthropic challenge that will award a $10 million grant to a community-led initiative that invests in the physical revitalization of neighborhoods on the South and West Sides of Chicago. The Chicago Prize will support physical revitalization projects that can strengthen civic infrastructure and catalyze economic activity, improving the lives of current residents.”To Article
Pritzker Traubert Foundation announces the Chicago Prize, a $10 million grant competition to support community investment on Chicago’s South and West Side
“The inaugural Chicago Prize will be awarded in spring 2020. It will support a community-led, investment-ready initiative that is managed by a team with deep community partnerships, sophisticated approaches to community development and resident engagement, and the expertise to leverage the grant, implement the initiative, and create positive impact for residents and within the community-at-large.”To Article