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Preserving Affordable Housing by Buying, Not Building

shelterforce.org · 2,216 words · saved by 1 readers

Two organizations are quietly furthering income integration in higher-income Chicago neighborhoods without new development. Photo by Roman Boed via flick, CC-BY-2.0 ANNIE HOWARD PUBLISHED: FEBRUARY 19, 2019 SHARE TOPICS FROM LEGACY ISSUE Downtown Chicago. Photo by Roman Boed via flick, CC-BY-2.0 The supply of affordable housing in Chicago has fallen dramatically in the last few years. Owing to rising rents, the conversion of 2- and 3-flat buildings into single-family homes, and new development mostly happening in the high-end sector, the city saw its supply of affordable apartments decline by more than 10 percent between 2012 and 2016, according to DePaul University’s Institute for Housing Studies. Though largely the product of diffuse market conditions, and only partially steered by government bodies, the net result is a loss of overall units and increasing rent costs for many city residents. Three buildings for seniors owned by Presbyterian Homes on the city’s North Side nearly becam

Downtown Chicago. Photo by Roman Boed via flick, CC-BY-2.0 The supply of affordable housing in Chicago has fallen dramatically in the last few years. Owing to rising rents, the conversion of 2- and 3-flat buildings into single-family homes, and new development mostly happening in the high-end sector, the city saw its supply of affordable apartments decline by more than 10 percent between 2012 and 2016 , according to DePaul University’s Institute for Housing Studies. Though largely the product of diffuse market conditions, and only partially steered by government bodies, the net result is a los

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