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Search resuls for: "Association of Chicago"


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Chicago voters will consider a ballot measure on Tuesday that progressive Democrats see as a solution to homelessness. The proposal would allow the City Council to increase real estate tax revenue to help fund programs to get people off the street. The ballot measure has prompted arguments about the downtown’s sputtering recovery, the influx of migrants that has strained city services and political coalitions, and the wisdom of entrusting Mayor Brandon Johnson and his fellow progressives with more tax money. One issue not being contested: Homelessness is a problem in Chicago. The group says that the new tax would deal another blow to an office real estate market still mired in a post-pandemic vacancy crisis.
Persons: Brandon Johnson, , Farzin Parang Organizations: City Council, Association of Chicago Locations: Chicago
To revitalize the area, the city has approved three projects to turn vacant commercial space into affordable housing. While some residents are skeptical, the LaSalle Reimagined Initiative is just one of many creative solutions urban planners are raising to fill the space. Chicago's downtown office space posted a 22.4% vacancy rate in the first quarter of 2023, which poses the question: What does the city do with all that vacant commercial office space? The LaSalle Reimagined Initiative: A new housing developmentThree adaptive reuse proposals were selected for the LaSalle Reimagined Initiative, Chicago's ambitious plan to repurpose a portion of LaSalle Street's 5 million square feet of vacant commercial space into mixed-income housing. Marisa Novara, the commissioner of Chicago's Department of Housing, said that the LaSalle Reimagined Initiative hopes to create nearly 600 affordable-housing units.
Persons: Chicago's, , Marisa Novara, who's, Amy Masters, Masters, DOH Organizations: LaSalle, Service, Chicago's Department of Housing, Association of Chicago Locations: Chicago's, LaSalle Street's, Chicago, Novara
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