Thursday, July 24, 2014

FLATS Setting Aside 58 Units For Affordable Housing

By Mary Ellen Podmolik
1325 W. Wilson, a FLATS property
Chicago Tribune
A Chicago developer that has been among the most active firms behind the conversion of dilapidated, very-low-income housing into market-rate apartments is teaming with the city to offer more than four dozen subsidized units to Chicagoans who make no more than $15,200 a year.
The 58 small studio units in four of Cedar Street Cos.' FLATS Chicago buildings in the Uptown and Edgewater neighborhoods represent fewer than 10 percent of the apartments that will be in the buildings, only one of which is open. Still, the program represents the first cooperative effort of its kind between a for-profit developer of several properties and Chicago's Low-Income Housing Trust Fund. It is intended to serve as a pilot for additional collaborations.
Continue Reading

Also see:
DNAInfo "Landlord Criticized for Displacing Poor Tenants To Offer Affordable Housing


  1. If this follows in the path of other "affordable" government financed housing programs the property owners should do well. The tenants may have a decent place to live.

    The taxpayers................time will tell. If it's anything like the price of the housing at Wilson Yard then prepare to repel boarders. ARRRGH.

    If it's anything like this story reported in the Chicago Reporter then the taxpayers are being taken to the cleaners. Probably that empty cleaners on Broadway where Littleton holds his "arts" exhibits.

    For those of you with small IQ's and weak egos, like Ryne who BANNED Banned* me on Uptown Uprising, the Chicago Reporter is a left wing rag that on occasion does good work. Their reporting is generally good, but sometimes their conclusions are a bit off.

    As for Ryne me and my fellow overweight balding gay and non gay male Uptown residents aren't going anywhere. We were here before you and we'll be here when you're gone. THPPPPPPT. Mom, Ryne banned me!

    *Not to Ryne since you deleted something similar on Uprising. The best way to deal with being trolled, and that's what I do to you, is to ignore it. Anything else empowers the troller.

  2. Power to the trolls! The article made it seem like this was just a temporary thing, like a phasing out of affordable units and this is just the right political thing to do.

  3. Fifty eight studio units spread out among multiple properties is one way to avoid the problems concentration of low income housing can cause. I hardly think groups of bangers will be hanging in individual studio units. Perhaps these 58 units will provide us with another Uptown "artist" like Littleton who can bring joy to our lives by drinking Starbucks coffee, painting murals, lighting the way on dark nights with his phosphorus like hair and of course twerking for the enjoyment of one and all. Or not.

    If the government, taxpayers, aren't overpaying for the units I can think of worse ways money has been spent. That doesn't necessarily mean I think this is a good thing. I really don't know.

    Denice Davis's slackey Cortez is concerned that it only lasts ten years. I think some TIF money was spent under Shiller renovating some building for low income housing and the term there was twenty years. All good things come to an end.

    One day our Sun will go Supernova and destroy Earth. I'm hoping not in my lifetime. I'm selfish that way. Odds are we have a few billion more years before that happens. It just fills me with sadness to think of a Universe with Earth........and me of course.

    1. I really need to start "proofreading" before I hit enter.

      I'm filled with sadness at the thought of a Universe WITHOUT Earth......etc etc.

      Oh well.....