https://chicago.curbed.com/2019/12/1...-all-ordinance
hopefully they find out a way to get this figured out bc as we all know there is no affordable housing crisis in Chicago lol.
If the requirement cuts too aggressively into profit margins, builders won’t be able to recoup already soaring construction costs or get financing from banks. Whether the city requires 10 percent affordable housing or 30 percent, the number of units is zero if a project never gets off the ground
This is scary stuff to be lead on to by freshman alderman such as the crazy sigcho-lopez and la spata whom have no experience at all with development and are pressing for this to be adjusted.