Mayor Brandon Johnson and The Department of Housing Introduce Green Social Housing Ordinance to Chicago City Council

Mayor Brandon Johnson has introduced the Green Social Housing Ordinance to the Chicago City Council, a pivotal move in addressing the city's pressing affordable housing shortage. This ordinance enables the creation of an independent nonprofit that will oversee the development of Green Social Housing (GSH) projects, which are designed to be both affordable and environmentally sustainable. Supported by a $135 million revolving loan fund from the 2024 Housing and Economic Development Bond, the initiative aims to provide low-cost construction loans without depending on traditional federal subsidies. Mayor Johnson highlighted the urgency of increasing affordable housing supply and achieving environmental justice for residents. Currently, over 119,000 affordable housing units are needed in Chicago, with more than half of residents experiencing rent burdens.

The GSH model ensures that at least 30% of each development's units will remain permanently affordable, while the remainder will be offered at market rates. This innovative approach not only aims to reduce construction costs but also enhances community benefits through sustainable practices. The initiative has garnered support from various organizations, emphasizing collaboration in tackling the housing crisis.