South Side affordable housing development greenlighted

The Chicago Plan Commission Approves Affordable Housing Development

The Chicago Plan Commission on Thursday approved a proposed affordable housing development in a South Side area that hasn’t seen new family housing in about 75 years. Developer Leon Walker told commission members that the $26 million effort, part of the INVEST South/West program started by former Mayor Lori Lightfoot, could spark further development around a forgotten corner of the lakefront.

Thrive Exchange: A Step Towards Sustainable Development Goals

The plan calls for a six-story building, known as Thrive Exchange, at the corner of 79th Street and Exchange Avenue, next to a Metra stop and on the border between the South Shore and South Chicago neighborhoods. This first phase of the development, which still needs approval from the full City Council, will provide 43 affordable one- and two-bedroom apartments, about four studio apartments, ground-floor retail, a public plaza facing the Metra tracks, widened sidewalks and new offices for Neighborhood Housing Services of Chicago, a nonprofit that promotes homeownership.

Investing in the Neighborhood for Sustainable Transformation

Developer Leon Walker acknowledges the challenges faced by the neighborhood but believes that investment is crucial for positive change. He stated, “One building cannot solve all the difficulties and challenges a neighborhood suffers from, but we are starting the process.”

• Thrive Exchange will provide affordable housing options.
• It will contribute to the revitalization of the forgotten corner of the lakefront.
• The development includes ground-floor retail and a public plaza.
• Widened sidewalks will enhance pedestrian accessibility.
• New offices for Neighborhood Housing Services of Chicago will promote homeownership.

Community Response and Future Prospects

Local entrepreneurs are optimistic about the new development’s impact on the neighborhood. Dwan Stevens-Martin, owner of Urban Luxe Cafe, expressed her excitement, stating, “It will bring in new neighbors, and that definitely won’t hurt my business.”

The unanimous support from the Chicago Plan Commission indicates the recognition of the importance of affordable housing development. However, member Guacolda Reyes suggested a focus on larger units to accommodate larger families struggling with rent payments.

Building a Sustainable Future

Thrive Exchange is part of the INVEST South/West program, which utilizes a combination of funding sources, including TIF dollars and tax credits. Although the development targets households making 60% of the area median income, the quality and amenities of the apartments will be comparable to those in more upscale areas. This ambitious project aims to become a neighborhood anchor and attract families and professionals who may become homeowners in the future.

Future Phases and Collaborative Efforts

Developer Leon Walker envisions further development in the area, including another affordable apartment building, the transformation of the historic Ringer Building into a healthcare center, and an affordable condo development by Revere Properties on a nearby vacant lot. These collaborative efforts are essential for the overall transformation of the neighborhood.

Walker emphasized the importance of initiating these projects, stating, “They can’t get going until we get going.”

SDGs, Targets, and Indicators Analysis

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 11: Sustainable Cities and Communities
• SDG 1: No Poverty
• SDG 8: Decent Work and Economic Growth
• SDG 10: Reduced Inequalities

The article discusses the approval of an affordable housing development in a South Side area of Chicago. This addresses SDG 11, which focuses on creating sustainable cities and communities. The development aims to provide affordable housing, which is connected to SDG 1, as it aims to reduce poverty and provide access to adequate housing. Additionally, the development could spark further economic growth and job opportunities, aligning with SDG 8. Lastly, the mention of providing housing for households making 60% of the area median income highlights efforts to reduce inequalities (SDG 10).

2. What specific targets under those SDGs can be identified based on the article’s content?

• SDG 11.1: By 2030, ensure access for all to adequate, safe, and affordable housing and basic services and upgrade slums.
• SDG 1.4: By 2030, ensure that all men and women, in particular, the poor and the vulnerable, have equal rights to economic resources, as well as access to basic services.
• SDG 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation.
• SDG 10.2: By 2030, empower and promote the social, economic, and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion, or economic or other status.

The specific targets identified are based on the goals mentioned in the article. The development aims to provide access to adequate, safe, and affordable housing (SDG 11.1). It also aims to reduce poverty and ensure equal rights to economic resources and basic services (SDG 1.4). The development could promote job creation and entrepreneurship (SDG 8.3). Lastly, it aims to promote social and economic inclusion, irrespective of various factors (SDG 10.2).

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Number of affordable housing units created
• Percentage of households with access to affordable housing
• Increase in employment opportunities in the area
• Reduction in poverty rates in the area
• Percentage increase in economic resources available to the poor and vulnerable

The article does not explicitly mention specific indicators. However, potential indicators that can be used to measure progress towards the identified targets include the number of affordable housing units created, the percentage of households with access to affordable housing, the increase in employment opportunities in the area, the reduction in poverty rates in the area, and the percentage increase in economic resources available to the poor and vulnerable.

4. Table: SDGs, Targets, and Indicators

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Source: chicagotribune.com

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