Building Affordability into the 26th Ward
Ald. Maldonado has been keeping the 26th Ward affordable for our neighbors and the next generation by approving these affordable developments. In two years, almost 200 new apartments have been added to the housing stock in the Ward. Six new affordable homes are on the way. Long-time residents, who rebuilt the Ward, have earned their right to enjoy the fruits of their labor.
A building rehab--with 68 affordable studios--was approved by the City Council with Maldonado's vigorous support.
45 family-size apartments are slated for Oct. 2018 in 12 locations across the ward. Each has low utilities.
Soon to come--15 live/work apartments for artists and their families above a theater, concert hall and piano bar.
Maldonado asked developers to build homes on city owned lots the 95% could afford. Now, 6 homes will sell for $247,000 each to those making between $66,000 and $94,000.
49 single and family units opened in 2018 for incomes between $17,800-$50,500.
In 2011, abandoned homes were rehabbed and sold to families with incomes between $38,000-$90,000. Prices started at $90,000.
Since taking office in 2009, Alderman Maldonado has vigorously supported the building and rehabbing of affordable homes and apartments in the 26th Ward. In the last 2 years, he has approved the building of almost 200 affordable apartments and 6 new homes in the Ward. "Builders who build middle-income housing have been driven out of the real estate market. Now only high-end builders exist. The City and CHA can use their funds and programs to rebuild the middle-income real estate market so the next generation can have an opportunity to put down roots," explained Maldonado.
- He supports Magid Glove Affordable Housing surrounded by parkland. This development is projected to house 150 families with a park connecting to the western most end of The 606. "All we see around The 606, in terms of new construction, is construction of market-rate housing,” he said. “Working families have the right to enjoy living in new affordable units near The 606, too."
- Maldonado opposed The 606. High-end developers needed a premium urban park in order to sell mini-mansions that were miles away from Lake Michigan. That's why the real estate industry rallied behind the 606 Bloomingdale Trail. But they didn't use their own money. They tapped federal, state, city and non-profit funds. "I knew that a premium urban park was a necessary precondition to sell to the upper %5; otherwise these developers would look elsewhere," Maldonado explained. "So I did not approve any stage of the Bloomingdale Trail."
- Designated"Puerto Rico Town" along Division Street as a Special Purpose District for “Cultural Sanctuary”, involving the community in investments of new and existing businesses, promoting art and culture that both preserves a unique identity and creates jobs and bustling retail.
- He moved to eliminate abandoned houses by taking property owners to housing court, forcing them to repair these houses or tear them down.
- Maldonado voted NO on the Mayor's $543 property tax and the current budget passed in 2015. Instead, he wants a transaction tax on La Salle Street financial exchanges and a property tax surcharge on downtown buildings over $500M.
- Promoted federal programs to rebuilt abandoned homes and put them into the hands of modest income families. In 2011, with the help of federal funds, more than five abandoned homes were rehabbed and sold to families with incomes between $38,000-$90,000. Two flats were sold starting at $90,000 on 360 N. Avers, 3417 W. Hirsch, 3339 W. Lemoyne, 3518 W. Lemoyne and 1636 N. Spaulding.
- Maldonado was a lead co-sponsor to force CHA to spend their $442M surplus (keeping the Promise Ordinance). "Thousands of Chicago residents could find homes. Hundreds of landlords would find steady renters--if only CHA would stop sitting on our federal tax dollars," said Maldonado.
- Maldonado is slowing teardowns of family run apartment buildings with the Pilot Act for the Preservation of Affordable Housing in the 606 Residential Area. It would implement higher fees to demolish housing, build new market-rate housing, and to rezone a property intended for market-rate housing.
- Maldonado is fixing the problems the 606 created with Forgivable Loans. "Long-time residents near the 606 have seen their property taxes increase dramatically but not their income," said Maldonado. This program help a single family home or up to a 4-unit dwelling, can receive up to $25,00o in a "forgivable loan" for a new roof, painting, siding, tuck pointing, windows or doors, a new porch, plumbing, electrical, heating.
- Maldonado helped to create 6 new, single family homes for modest income households., those making between $66,000 (for an individual) and $94,000 to $125,00 (for families of 4 to 8). Using the City Lots for City Living, these 6 new West Town homes will sell for only $247,000.
- He's now adding more homes, more entertainment and more culture on Division Street. The Nancy Franco-Maldonado Paseo Boricua Arts Building project will transform seven buildings on the 2700 Block of West Division Street, including the former site of Ashland Sausage Company-vacant since 2005-into the first-ever cultural building in Chicago with a holistic focus on providing live/work space and promoting the talents of local artists in various media. The building will offer 15 live/work residences for artists and their families; a 99 seat multi-media theater with film, theatre, and concert performances; and a nearly 3,000 square foot art gallery with a retail component allowing resident and local artists to sell their artworks. A piano lounge showcasing wines from Latin America and spirits from the Caribbean will become an anchor for nightlife on the Paseo Boricua corridor.