^ Yes. The normal requirement is 10% affordable, but Related is using TIF money for infrastructure so their requirement goes up to 20%. 1/4 of the requirement (5%) needs to be built on-site, and 1/4(another 5%) will be "bought out" with fees paid back to the city.
Sounds like they negotiated with Ald. Solis to get the remaining 10% of affordable housing built off-site in the Pilsen/Little Village pilot area... but that pilot area
actually stretches up through University Village to Harrison Street and includes much of the Roosevelt Square development, where Related Midwest was gonna build affordable housing anyway under their agreement with the CHA. It also includes Related's highrise at 1035 W Van Buren. The boundaries are kinda funky there, so I can't tell if Related's empty Roosevelt Square land actually falls in the pilot area. If not, then they have to go searching for large sites elsewhere in the Pilsen/LV pilot area. Or potentially they could take existing market-rate units in Roosevelt Square and 1035 W Van Buren and put a covenant on them restricting the rents to affordable levels. Either way, seems like a shrewd deal cut between Related and Ald. Solis.... the boundaries of the pilot area are most definitely gerrymandered to help Related in some way.
Also, very disappointing that the Plan Commission presentation included no mention of a new Red Line stop. I understand why Related doesn't want to be on the hook for building a subway station, but without their influence I doubt it will get built at all.
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