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.
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.
FULL STORY: Plan for Transformation a tough sell in weak market
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A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
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Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
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City of Tustin
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Regional Transportation Commission of Southern Nevada
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