NW Side Alderpeople Want Out Of Anti-Gentrification Zone, Saying Its Punishing Longtime Homeowners

Alds. Felix Cardona, Jr. and Gilbert Villegas have introduced an amendment to withdraw their wards from the Northwest Side Preservation Ordinance, a measure designed to combat gentrification by safeguarding low-income renters. Under this ordinance, tenants gain the right of first refusal to purchase their building, but the aldermen argue it complicates selling for longtime homeowners. Cardona cited constituent complaints about the difficulty older residents face in navigating the ordinance's requirements.

He emphasized that the added red tape negatively impacts those who have invested in their properties for many years. Villegas noted that the law disrupts the free market, potentially leading to legal challenges from financial institutions concerned about the implications of the tenant's right of first refusal. Both aldermen have joined critics who assert that the pilot program exacerbates affordability issues and reduces housing supply. The proposed amendment has been labeled an "attack" on the preservation ordinance by housing organizers who have supported the policy since 2015. The aldermen plan to reconsider their stance if adjustments are made to address these concerns.