Nov
13

New Cook County Real Estate Helps the Needy

November 13, 2012

new homes in cook county help the needyDuring most of 2011, the Housing Authority of Cook County had a 10 percent vacancy rate for its 2,100 public housing units. The high vacancy rate meant that nearly 200 needy households were going without shelter. But, due to some recent changes, 200 additional units are being put to use.

The Housing Authority of Cook County is well-known for being the second largest provider of low-cost housing in the entire state. The organization provides housing to low and moderate income families as well as the elderly and the disabled.

The cost of revamping the 200 units cost $4 million, and the funds were leftover from money that the previous agency administration hadn’t spent. Since so many people are losing their homes due to difficult economic situations, it was important the agency put these 200 units to good use.

The 200 units are located in the south suburbs of Chicago, and include community rooms with low-cost Internet access as well as cable TV hookups. The agency has also been running basketball tournaments as a way of building community.

In other affordable housing news, the Illinois Housing Development Authority plans on investing tax credits to put towards a $9.8 million construction project that will create 460 low-cost rental apartments in the Chicago area. The housing authority plans on building 60 townhomes in Crystal Lake, 91 senior housing units in Mt. Prospect and two developments in Chicago that house 126 veterans.

Hopefully 2013 will continue to bring more affordable Cook County real estate.

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Jessica Thom

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