City Investing $1 Billion In 24 Affordable Housing Developments: “The city is investing about $1 billion in 24 proposed developments that will create affordable housing around Chicago, officials announced Monday. The 24 proposed developments — a mix of new construction projects and preservation and rehabilitation work — are expected to create 2,428 units of affordable housing. They include a developer who wants to adaptively reuse a former Chicago Public School building for re-entry housing and a project that is the city’s first development in partnership with and for Indigenous people, according to the city.” - Block Club Chicago
Pilsen’s Largest Vacant Lot Bought By City, Which Vows To Add 280 Affordable Housing Units To 6-Acre Plot: “The city is buying a 6-acre plot of land in Pilsen to build at least 280 units of affordable housing, officials announced Monday. The venture comes as Chicago leaders announced new city investments into affordable housing, bringing the year’s tally up to $1 billion, Mayor Lori Lightfoot and other officials said at a Monday news conference.” - Block Club Chicago
Feds Probe Whether Aldermen Can Block Affordable Housing: “The US Department of Housing and Urban Development is investigating claims that Chicago aldermen’s veto power may be contributing to discrimination against low-income minorities. Housing activists filed a complaint over so-called aldermanic prerogative, a longtime Chicago tradition that gives them veto power over local developments, the Chicago Tribune reported.” - The Real Deal
Apartment Building in Chicago’s Northern Suburb Sold for $71M: “A 175-unit apartment building in north suburban Chicago sold for $71.3 million, marking the priciest multifamily deal in the area in two years. A CBRE fund bought the property at 1717 Ridge Avenue in Evanston from Invesco, an Atlanta pension fund adviser, Crain’s reported citing Cook County records. The deal was the biggest in the area since the $89.2 million sale of the 33-unit apartment The Atworth at Mellody Farm in Vernon Hills in December 2019.” - The Real Deal
How Can Uptown's Clark Street Be More Pedestrian- And Business-Friendly? City Study To Explore Options: “The city will conduct a study of Clark Street in Uptown to create a master plan for the street that has seen increased developer interest.” - Block Club Chicago
Irving Park Will Be Home To The City's First Affordable Housing For Native Americans (blockclubchicago.org): “City leaders are backing Chicago’s first affordable and culturally tailored housing for Indigenous people and families. The development will be located at 2907 W. Irving Park Road, where Irving Park and Albany Park meet, an area where the cost of housing has been increasing over the last several years. It will be close to Native American institutions such as the American Indian Center and the American Indian Health Services of Chicago.” - Block Club Chicago
