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For more than a decade, Cook County’s supply of
affordable rental housing has been shrinking. This
multibillion-dollar asset plays a central role in the region’s
$320 billion economy and is as critical to its infrastructure as
highways, transit systems, schools, and industrial parks.
Guided by ULI Chicago with support
from the John D. and Catherine T. MacArthur Foundation, the
Preservation Compact has brought together leaders from the public,
private, and nonprofit sectors to reverse the downward trend in
Cook
County’s
affordable rental housing supply.
To achieve this ambitious goal, the
Compact has launched a comprehensive Rental Housing Action Plan for Cook County, which includes six
Keystone Initiatives designed to preserve and improve 75,000 existing
affordable rental homes that might otherwise be lost to condominium
conversion, demolition, or rising costs.
Rich Hanson, Mesa Development,
LLC and Julia Stasch, The John D. and Catherine T. MacArthur
Foundation, are co-chairs of the Preservation Compact.
Judy Levey will coordinate activities for The Preservation Compact and
can be reached at 773-549-2655 or Judy.Levey@ULI.org.
With support from
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