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Lightfoot Commits to $1B in Affordable Housing Investment
Chicago Mayor Lori Lightfoot and Department of Housing (DOH) Commissioner Marisa Novara on Monday announced more than $1 billion in affordable housing developments, the city’s largest such investment to date.
Thanks to the Chicago Recovery Plan and Lightfoot’s 2022 budget, DOH is more than doubling developments awarded and units built over the 2019 Low-Income Housing Tax Credit (LIHTC) round: to 24 developments, mainly on the city’s South and West Sides, 2,428 units, and $1 billion in 2021.
“Investing in affordable housing is a critical component to creating an equitable, strong city,” said Lightfoot. “I am thrilled that we’ve been able to expand our investments in affordable housing to move us closer towards that vision for our city.”
Total development costs for the 24 LIHTC developments are estimated at $952,775,414 and include all public and private resources, among them $18.6 million in 9% LIHTC and $13.9 million in 4% LIHTC.
- ◦Policy/Gov't


