Mayor Daley has appointed James Reynolds Jr. to be the new chairman of the Chicago Housing Authority.
Reynolds, who grew up in the Englewood neighborhood, is the CEO of Loop Capital Markets and replaces parking executive Marty Nesbitt.
The Chicago City Council must still approve Mayor Daley's choice.
Daley said the recession has made it tough for developers to build the mixed-income housing that was supposed to replace the high-rises that have been torn down, when asked how the CHA is doing on finding replacement housing for CHA families who have seen their units razed, according to the Chicago Sun Times.
The CHA reopened the family housing waiting list back in June.
