A common battle in the effort to build affordable housing is gentrification, which generally results in displacement of a neighborhood’s longtime residents. As property values rise, they no longer can afford to live there.
We’ve all watched this happen . . .
It starts with a few new businesses. Then a few homes are rehabbed—the owners want to live close to their workplaces, after all. This becomes the foundation for more development. More new businesses, more homes are upgraded. A new community begins to emerge that is often incompatible with the old demographic.
In Chicago, a developer specializing in affordable housing wants to build a large complex to combat gentrification-fueled displacement in the neighborhood. Read more