Monday, March 30, 2015

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Real Estate Development

Lakeside's real estate development activities have historically worked to preserve and create rental and for-purchase housing that is affordable to individuals and families earning up to 60% of the Chicago-area median income.

To achieve its goal, agency staff and volunteers provided technical assistance to property owners, community lenders, landlords, and developers to increase their knowledge of and use of affordable housing tools. This included helping them identify low-cost financing for their projects, develop a strategy for securing community support, and/or completing applications for public funding. Lakeside also convened public and private forums to bring different stakeholders together into constructive dialogues and collaborations.

Through its advocacy efforts, agency staff promoted new strategies that will increase the options available to property owners for creating safe, decent, and affordable housing. 

Lakeside's long term goal is to acquire, either independently or in partnership with another organization, housing units that it owns and rents. The agency is not currently pursuing real estate development activities.

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