LOL. Their entire plan relied on selling expensive market-rate units to subsidize the affordable/CHA units.
Unfortunately it's a terrible market for condos or even townhouses, and market-rate buyers are not just a pinata full of cash waiting to be busted open. They have lots of choices in Chicago and don't want to move into a bombed out urban renewal wasteland when there are actual vibrant neighborhoods available, or amenities like the lakefront.
No way they can complete all the units by 2024. If they were serious about it, they would have identified new sources of revenue to build more housing that is purely CHA. Even the developments in semi-decent locations like Cabrini, Roosevelt Square and Oakwood Shores have stalled out, places where market-rate buyers might conceivably move in. What hope do they have for rebuilding Stateway Gardens or LeClaire Courts?
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la forme d'une ville change plus vite, hélas! que le coeur d'un mortel...
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