Crain’s Chicago Business, February 15, 2023, Is Lightfoot’s Signature Housing Policy Working? Depends On Who You Ask.
City approvals for marquee apartment projects have been smaller and less frequent since the City Council passed Lightfoot’s 2021 revamp of the city’s Affordable Requirements Ordinance, an Illinois Answers Project analysis shows. Some builders point to the trend as vindication for their opposition to the ordinance, which cranked up requirements for developers to include some affordable units in any large project they propose in wealthy or gentrifying neighborhoods. They say the rules were so harsh that they choked off development, ultimately leading to less new housing — including fewer new affordable units.
