The Chicago Community Loan Fund (CCLF) has provided a $3,333,333 loan to support the ASPIRE Initiative, according to a press release by CCLF. The ASPIRE Center, located on a three-acre property, is a collaborative project of the Westside Health Authority (WHA) and Austin Coming Together (ACT).

"This development will be an anchor in this area of Austin and will be the catalyst for growth and revitalization of the community," stated the Chicago Community Loan Fund.

The ASPIRE Initiative is a multifaceted project that includes financial counseling, employment services, job readiness, vocational training, and more. It will eventually transform into an advanced manufacturing training center, a small business incubator, a community gathering place, and an event venue.

Funding for this endeavor came from various sources, including IFF and Enterprise Community Loan Fund. The project involves constructing a 7,835-square-foot, two-story addition alongside the existing structure, resulting in a total building area of 76,605 square feet.

Notable tenants for the ASPIRE Center include BMO Harris and the Jane Addams Resource Center, according to the press release by CCLF.

"CCLF is very excited to see the ASPIRE project unfold since its connection began offering technical assistance in 2018," said Wendell Harris, CCLF Vice President of Lending Operations. "CCLF has an ongoing relationship that needs to deepen with both the West Side Health Authority and Austin Coming Together. Both organizations bring huge impact. Most importantly, they have true partnerships with the people in that community."

The ASPIRE Initiative was born out of the closure of 50 Chicago Public Schools in 2013. This move, aimed at cost-cutting, represented the largest simultaneous school closure in any U.S. city. As a result, 50 vacant school buildings were left across Chicago. The former Emmet Elementary School in the Austin community has been repurposed as the ASPIRE Center.