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, marking a crucial move to address the city's severe affordable housing crisis. This ordinance will facilitate the creation of an independent nonprofit tasked with developing Green Social Housing (GSH) projects, which aim to provide permanently affordable, mixed-income, and environmentally sustainable housing. The initiative is supported by a $135 million revolving loan fund established through the 2024 Housing and Economic Development Bond, designed to offer low-cost construction loans without relying on federal subsidies. A key feature of the GSH model is the commitment to ensuring that at least 30% of units in each development are permanently affordable for households earning up to 80% of the area median income. Mayor Johnson highlighted the ordinance's role in promoting environmental justice and creating a consistent funding mechanism to meet housing needs.

With over 119,000 families in Chicago lacking affordable housing and more than half of residents facing rent burdens, this initiative is poised to have a significant impact. The GSH developments will also meet Green Building Standards, contributing to sustainability and lower utility costs for residents. This innovative approach reflects a commitment to maximizing resources for affordable housing while ensuring long-term community benefits.