In a city with a shortage of affordable housing and thousands of Chicagoans without stable housing, it is a moral failing of our leadership to leave abandoned and vacant properties to deteriorate. I will work with communities to rehab these properties and turn them into affordable homes. I’ll also work to maintain existing housing stock, create more economically accessible housing in new developments, hold building owners accountable for property upkeep, and prevent rents from increasing at unfair rates.
I will restrict the buyout option in the Affordable Requirements Ordinance (ARO) that allows developers to pay a fee instead of actually building affordable homes. We have to stop prioritizing the profits of developers over the needs of residents by strengthening the ARO to require the creation of more affordable units.
As a city, we’re already encouraging denser development around transit - this can increase housing availability while keeping costs down. As mayor, I will continue these important reforms.