Lightfoot Proposes Revisions to Chicago’s Affordable Ordinance
Mayor Lori E. Lightfoot on Wednesday introduced a revised Affordable Requirements Ordinance (ARO) to Chicago City Council. Intended to encourage production of more affordable and family-size units, the revised ARO expands off-site options geared toward Chicagoans in the greatest need for affordable rental housing while also focusing on anti-displacement measures.
The current ordinance was passed in 2015. It applies to residential developments of 10 or more units and requires that developers provide 10% of their units at affordable prices or pay in-lieu fees that the department then uses for affordable housing citywide.
The revised ARO, the product of 18 months’ work including a task force report, increases the set-aside to 20% downtown, in neighborhoods with low current levels of affordable housing and in neighborhoods facing displacement of low-income residents. It also reduces the number of units that may be paid out with in-lieu fees from 75% to 50%
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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