November 2005 report examines the status of affordable housing development within mixed-income communities, and explores the challenges involved in achieving the Plan's affordable housing goals.
At the Nov. 17, 2005,“Building Successful Mixed-Income Communities:
Quality Education and Schools (II)" forum
, MPC released a new CHA Plan
for Transformation Update. This publication focuses on the approximately 4,000 affordable homes that will be developed, side-by-side with
public housing and market-rate homes, at the different mixed-income sites throughout the
city by the end of the Plan for Transformation.
affordable homes include rentals priced for families
making up to 60 percent of Area Median Income (around $45,000 per year for
a family of four) and for-sale opportunities for families making up to 120 percent
of AMI (approximately $90,000 per year for a family of
MPC's update offers data on the number of affordable homes completed at each site
as of October 2005, along with short and long-term development projections.
The study also reflects on the challenges affecting affordable housing
development in Chicago, especially the increasing costs and limited funding sources,
and offers policy recommendations to guarantee the new mixed-income communities
include housing opportunities for families at all income levels.
To download the report in pdf version, click here