Opportunity Investment Fund Will Support Creation and Preservation of Affordable Housing in High-Cost and Gentrifying Markets Across Chicago
CHICAGO—(ENEWSPF)—June 21, 2018
By: Rosemary Piser
Mayor Rahm Emanuel and the Community Investment Corporation (CIC) announced today the Chicago Opportunity Investment Fund, a new initiative designed to create and preserve affordable rental housing across Chicago. The $30 million fund will provide low-cost financing to developers purchasing existing multifamily buildings if they guarantee affordable units in their properties for the next fifteen years.
The fund will focus investments in strong markets, where the cost of acquiring and preserving affordable . . .
