Last week, we hosted “Thinking
Regionally: Shared Challenges, Shared Prosperity,” a Salon predicated on
discussions of issues facing the Greater Hartford region and ways both urban
and suburban areas can collaborate to enact change. Of the many topics discussed, particular
interest was paid to issues of affordable housing as well as the notion that
other American cities face similar challenges as the Greater Hartford
region. One such city, Chicago, has
proposed a creative solution to address both the lack of affordable rental -units
and numerous vacancies.
In “Loan fund targets small rental buildings,” Mary Ellen Podmolik of the Chicago Tribune describes the proposed project. The Community Investment Corp. and numerous lenders in the Chicago area have funded a $26 million loan pool designed to entice local investors to buy rental buildings to be used as affordable housing units. The $26 million is expected to fund 200 buildings in the Chicago area.
Do you think a solution like this could work in the Greater
Hartford area? What are the potential
positive and negative consequences of the bill?
Do you have any similar ideas regarding housing, urban and suburban
relationships, or regionalism? Share
below!
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