Stagnant Sales Hamper Chicago's Revitalization Efforts

Failing to attract buyers even with deep discounts, developers are starting to bail out on Plan for Transformation, an ambitious program that seeks to replace moribund public housing projects with mixed-income housing.

1 minute read

June 20, 2011, 7:00 AM PDT

By Jeff Jamawat


Since the significant attrition in home values started in late 2007, Chicago remains one of the hardest-hit cities that are struggling to recuperate.

To the extent that the program is working, Mary Ellen Podmolik of the Chicago Tribune reports that developers now resort to offering $10,000 incentives to help assist potential buyers with expenses.

Podmolik asks: "Is the limited success of the homes a function of the horrible housing market or the mixed-income neighborhood and the potentially safer financial investments elsewhere?".

Plan for Transformation is a brainchild of former Mayor of Chicago Richard Daley.

Friday, June 10, 2011 in Chicago Tribune

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Use Code 25for25 at checkout for 25% off an annual plan!

Redlining map of Oakland and Berkeley.

Rethinking Redlining

For decades we have blamed 100-year-old maps for the patterns of spatial racial inequity that persist in American cities today. An esteemed researcher says: we’ve got it all wrong.

May 15, 2025 - Alan Mallach

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

May 14, 2025 - Diana Ionescu

Front of Walmart store with sign.

Walmart Announces Nationwide EV Charging Network

The company plans to install electric car chargers at most of its stores by 2030.

May 7, 2025 - Inc.

Aerial view of Albuquerque, New Mexico at sunset.

New State Study Suggests Homelessness Far Undercounted in New Mexico

An analysis of hospital visit records provided a more accurate count than the annual point-in-time count used by most agencies.

May 16 - Source NM

Close-up on white bike helmet lying on pavement with blurred red bike on its side in background abd black car visible behind it.

Michigan Bills Would Stiffen Penalties for Deadly Crashes

Proposed state legislation would close a ‘legal gap’ that lets drivers who kill get away with few repercussions.

May 16 - Wood TV 8

Muni bus on red painted bus-only lane in downtown San Francisco, California.

Report: Bus Ridership Back to 86 Percent of Pre-Covid Levels

Transit ridership around the country was up by 85 percent in all modes in 2024.

May 16 - Mass Transit