CHA May Buy Up Olympic Village

15 percent of the homes could go to low income families

By Andrew Greiner
|  Tuesday, Sep 1, 2009  |  Updated 11:15 AM CDT
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CHA May Buy Up Olympic Village

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Last time the CHA tried to group a bunch of low income families together it turned out real well.

The Chicago Housing Authority and a smattering of colleges are already calling dibs on the leftover Olympic village planned for the site of the former Michael Reese Hospital. 

If the city gets the Games, they’ll have to build a 2,500 unit village to house all the athletes and some concerns were swirling about what to do with all the property, Crain’s Chicago Business reports.

The CHA says they’ll buy up to 15 percent of the units.

“We view (the Olympic Village) as yet another option to add affordable housing in a great location to Chicago’s housing stock and to assist thousands of people in the city,” a CHA spokesman said.

Columbia College Chicago, Rush University Medical Center and the Illinois Institute of Technology have also expressed interest in taking over some of the housing to use as dormitories.

The housing development was mandated by the city to include 30 percent mixed income housing.

Though the city is looking for money to help defer the cost, none of the groups interested in taking over the housing have committed to funding the development. 
 

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