The Chicago City Council voted 30-18 to create a city-owned nonprofit housing developer — approving the centerpiece of Mayor Brandon Johnson’s effort to reduce Chicago’s massive affordable housing shortfall after weeks of intense debate.
The plan is designed to leverage the city’s financial power to build what the city calls “green social housing,” permanently affordable, mixed-income and environmentally sustainable housing.
Chicago faces an affordable housing shortfall of more than 119,000 units, and more than half of Chicagoans spend more than 30% of their income on rent and utilities, making them burdened by housing costs…