Chicago Tribune: Chicago is 120,000 units short on affordable housing. Here’s how the city and developers hope to fix that gap.
Jon Morgan, co-founder and managing principal of Interra Realty, a brokerage of middle-market apartment buildings in the Chicago area, said he thinks vintage buildings will benefit from the ordinance.
“We have clients that ask us to go out hunting for buildings that have the capability of putting additional units in the ground floor, “ he said. “The fact that they can add more units is good on the real estate side. And on the humanitarian side, I think it will definitely help introduce affordable options in other areas that previously didn’t really have to do that.”
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