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Chicago launches $6M pilot to build affordable housing on 30 vacant lots near Obama Center, targeting displaced residents since 2015.
A $6 million Chicago housing pilot, approved by the City Council’s Housing Committee, aims to combat displacement near the Obama Presidential Center by converting 30 city-owned vacant lots into affordable homes and rentals, prioritizing residents displaced since 2015.
The plan offers property tax relief up to $5,000, extends lease nonrenewal notices to 120 days, and targets areas south and west of the center, excluding more affluent Hyde Park.
Funded by city and philanthropic sources, it responds to a 43% rent increase and 130% rise in home values since 2015.
While some tenant protections were removed due to real estate opposition, officials say they will be addressed separately.
Advocates call it a key step against gentrification, building on past efforts, while the Obama Foundation supports the city’s outreach.
The measure now heads to a full City Council vote ahead of the center’s 2026 opening.
Chicago lanza un proyecto piloto de $ 6M para construir viviendas asequibles en 30 lotes vacíos cerca del Centro Obama, dirigido a residentes desplazados desde 2015.