awesome news for lincoln park (apartment, renters, homes)

[linicx]

Does this mean what I think? "Ten percent of all its new home construction" will be Sec 8? How Special.

[rparz]

Originally Posted by linicx

Does this mean what I think? "Ten percent of all its new home construction" will be Sec 8? How Special.

I think section 8 is reserved for Public housing while this is affordable housing.
It appears as though the residents will have jobs and pay a portion of their rent themselves.

[eevee]

Originally Posted by linicx

Does this mean what I think? "Ten percent of all its new home construction" will be Sec 8? How Special.

affordable housing doesn't equal sec. 8. Most likely these will be working adults w/ jobs that don't pay above a set limit (for example, I've seen similar setups in Boston where the income range was between $25/30K-$45-50K). Some cities have such a high COL that even white collar professionals can't afford decent housing there and take advantage of programs like these. No one need fear that this project will turn this portion of Lincoln Park into a slum

[Vlajos]

Originally Posted by rparz

I'd be more upset about bringing in more people and adding to the congestion of the area. Just what the area needs, more places where fresh midwest school grads can get too drunk for their own good and puke in public.

We live in a large city, congestion is not new. This kind of thinking holds back Chicago.

[Vlajos]

Originally Posted by eevee

affordable housing doesn't equal sec. 8. Most likely these will be working adults w/ jobs that don't pay above a set limit (for example, I've seen similar setups in Boston where the income range was between $25/30K-$45-50K). Some cities have such a high COL that even white collar professionals can't afford decent housing there and take advantage of programs like these. No one need fear that this project will turn this portion of Lincoln Park into a slum

This, there is no Section 8 planned for this development. It is simply a rent restriction to 60% of area median income. No big deal.

[Kamms]

Originally Posted by Irishtom29

Evidently it's the job of the taxpayers to subsidize wealthy banks, contractors and other corporations. It's easy to pick on the poor, they've so little power. Now to attack the wealthy and powerful, that would take a little moxie.

Evidently it is the job of taxpayers to keep electing pols in Chicago and Illinois to assist banks, contractors, corporations and the pols in obtaining subsidies and kickbacks.

[rparz]

Originally Posted by Vlajos

We live in a large city, congestion is not new. This kind of thinking holds back Chicago.

I was only half kidding...About the congestion. (it's already packed)

Not the drunk college students.

[Vlajos]

Originally Posted by rparz

I was only half kidding...About the congestion. (it's already packed)

Not the drunk college students.

Got it

[BRU67]

Speaking of affordable housing, this will impact a lot more people and neighborhoods than a few low income rental units in one of Chicago's most affluent communities...

Cook County Land Bank Proposal | Bridget Gainer (http://www.bridgetgainer.com/foreclosure-and-land-bank/2012/04/coming-soon.html - broken link)

Basically, the program wants to turn foreclosed homes into affordable rental housing. Whether you think it's wise, or not, it'll sure create an impact I bet!

[Chi-town Native]

Originally Posted by Vlajos

This, there is no Section 8 planned for this development. It is simply a rent restriction to 60% of area median income. No big deal.

Ah, my bad, so this is really more of a "rent control" project than the affordable housing set-asides so popular during the housing boom.