MacKenzie Scott gives $15 million to Chicago’s Community Investment Corporation for affordable housing

By CNN Newsource

Published November 26, 2024 9:11 am

By Steffanie Dupree

CHICAGO (WBBM) — A Chicago nonprofit that helps provide affordable housing is the recipient of a huge gift from philanthropist MacKenzie Scott.

Scott is giving $15 million to the Community Investment Corporation, a nonprofit lender that helps buy, rehab, and preserve affordable rental housing.

The gift is the largest ever received in the 50-year history of the organization.

Developer Steve Thomas of the Community Investment Corporation said it is about building not only homes, but solid neighborhoods.

“The more of those properties that we get online, the better our neighborhoods become, because we don’t have vacant properties that are on the blocks that can just cause issues,” he said.

This was Scott’s second gift to CIC. She also donated $8 million in 2020.

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