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Affordable Housing

Objective

Invest in new housing units and existing homes to provide affordable housing opportunities, including investments in mixed-use development, supporting families that seek to remain in their home, helping residents become homeowners, lead paint abatement and other owner-occupied repairs.

affordable housing

Recent Updates

Used CRP funding to support the City’s largest Low-Income Housing Tax Credit (LIHTC) round in history ($1 billion in total development across 38 community areas), which will ultimately enable over 2,400 new and preserved affordable housing units.

Awarded grant funding for shared-ownership housing pilot to support long-term affordable homeownership opportunities.

Began completing accessibility modifications under the SARFS and HomeMod Program, such as installing lifts, widening entryways, and retrofitting bathrooms.

Passed two City ordinances to help fund and stabilize naturally occurring affordable housing. The Shared Ownership Preservation Pilot provides financial support to Co-ops and HOAs in South Shore to make repairs and stay affordable. The Single Room Occupancy (SRO) Preservation Initiative helps preserve SRO housing with grant support for property owners, keeping rents affordable over the long-term.

Selected 6931-39 S Crandon Ave as first pilot site for $15 million Shared Ownership Housing Preservation pilot to support HOAs at risk of conversion, helping owner-occupants with repairs and maintenance.

Up Next

Continue to break ground on multi-family developments receiving CRP funds in 2023. The Department of Housing continues to finalize funding details for these sites and move these complex developments through the planning process.

Lead hazard and healthy home inspections will begin in 2023, with plans to complete significant repairs through the remainder of the year.

Launch multiple programs to support homebuyers in 2023, including a purchase price assistance program and support for land trusts and cooperative housing organizations to secure long-term, affordable ownership housing opportunities.

Expansion of the lead hazard and healthy home inspection and abatement/remediation program will begin mid-2023 to make more comprehensive health and safety improvements to more households with children in communities of the greatest need.

Urban Native American Housing

Urban Native American Housing | Irving Park

In a meeting four years ago, Visionary Ventures described their dream project and asked Full Circle to join in partnership. This commitment from the City of Chicago moves that dream closer to reality. This development will deliver long-awaited affordable housing, amenities, and wrap-around services while complementing the tremendous community development work happening in Chicago’s Native community.

Lindsey Haines | Full Circle

Programs



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