Producing affordable housing in Chicago-especially affordable rental housing-is a continuing challenge for both developers and public officials throughout the region.
Why build apartments when you can build condominiums? This question captures the anomaly of the Chicago-area housing market. Rental demand is strong. Vacancies are low. Rents are going up 5 percent a year. In short, this is a classic scenario for a wave of new apartment development. Yet the construction focus throughout the region, even for affordable housing, is still on for-sale product. (ULI membership is required to read the full text of this article.)
Thanks to Urban Land Magazine
FULL STORY: Chicagoland?s Affordable Housing Deficit
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