Comer Xchange

In July 2024, CDF provided $9 million in New Markets Tax Credit (NMTC) allocation to Xchange Chicago to support the rehabilitation of an approximately 26,000-square-foot vacant building into a hub for information technology skills training and job creation located at 7247 S. South Chicago Avenue in Greater Grand Crossing. The project expands the Comer Education Campus and seeks to create a more equitable economy by providing innovative workforce solutions for local residents. The project will be anchored by minority-owned IT services provider SDI Presence, which will operate a service center and innovative paid technology apprenticeship program for disadvantaged residents. The building will also include space leased to United Way of Metropolitan Chicago for a 2-1-1- call center, office space for an additional third-party tenant, and a community café and commercial kitchen.

Xchange Chicago’s pre-apprentice training program will provide 100 clients annually with technical skills training and wraparound support services. Upon completion of the program, clients will be hired into full-time, nine- to twelve-month paid technology apprenticeships through SDI Presence. Apprenticeships will focus on such skills as help desk support and IT infrastructure and consist of continued training and placement with third-party businesses leading to permanent employment. At full operations, the project will support more than 180 full-time equivalent positions, all of which will earn above a living wage and receive benefits, 99% of which will be accessible without a four-year degree, and the majority of which are anticipated to be filled by residents of the surrounding community areas.

Old National Bank provided NMTC equity and an additional $4 million in NMTC allocation.