Wednesday, January 28, 2015

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Lakeside Community Development Corporation is keenly interested in tracking neighborhood housing trends to identify emerging opportunities and challenges for low- and moderate-income families. Areas of concern include housing redevelopment patterns, access to financial services and credit, foreclosures, for-sale and rental housing costs and conditions, and related issues. Lakeside has produced its own research and collaborated with other community and regional partners on special projects, several of which are listed below.

The Community Housing Audit: Housing Redevelopment in One Chicago Neighborhood
In 2006, Lakeside CDC documented the impact of widespread condo conversions in Rogers Park and identified a number of areas where reform were needed to protect renters and promote balanced development. Through the study, Lakeside identified 42 separate rental buildings, representing more than 940 lost rental apartments, under conversion to condos at the same time. Lakeside subsequently went on to use the Community Housing Audit methodology to look at redevelopment patterns in South Chicago, Logan Square, Hermosa, Albany Park, and West Ridge as part of the Preservation Compact, a broad program to preserve affordable rental housing in Cook County. (Information on rental conditions in Cook County are described below).
A Tale of Two-or-Three Neighborhoods

Results of a 2008 survey of black, white, and Hispanic renters in Rogers Park, which documented differences in the opinions of renters and the conditions in which they live within the Rogers Park community area. The survey was completed by Lakeside and allied organizations within the Partners for Rogers Park Housing Committee.
The Future of Western Avenue

A presentation on residents and businesses opinions and attitudes about how Western Avenue between Peterson Avenue and Howard Street should and could be redeveloped in the future. The study was completed with the West Rogers Park Community Organization and its Community Planning Board in 2009. Lakeside staff were directly invovled in helping develop the West Rogers Park Community Organization and its Community Planning Board, as well as organizing for the creation of the Western Avenue TIF Advisory Board.
Download a report on rental housing conditions in Cook County, which was completed by the Institute of Housing Studies at DePaul University. The study incorporates Lakeside’s 2008 community housing audits from South Chicago, Logan Square, Albany Park, West Ridge, and Rogers Park, as well as other information from government and industry sources. (Adobe PDF, 13 mb).
Rental Improvement Fund
Responding to the need to think more creatively and to plan for the long-term rental preservation needs in Rogers Park, Lakeside CDC and NorthSide P.O.W.E.R. collaborated to create a new fund called the Rental Improvement Fund. The fund would utilize tax increment financing (TIF) to finance capital improvement grants to neighborhood rental property owners. In exchange, the owners would commit to setting aside a portion of their units as long-term affordable rental housing. Lakeside and Northside P.O.W.E.R. conducted extensive community education and outreach and commissioned an independent analysis of the potential impact of the RIF. The analysis demonstrated that the RIF could generate as much as $54 million in funds for rental preservation over a 23-year period. Despite strong community support for continuing to develop the RIF into an operational fund, the RIF was opposed by the alderman, effectively killing the project.

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