DNAinfo reports on the soon to be introduced “Chicago For All” ordinance:
SRO owners would have to ask the city’s permission to convert SRO buildings priced for the poor to market rate housing, and would only gain that permission if they agree to keep at least 80 percent of the units as affordable housing or pay a fee for the loss of affordable units.
ONE Northside says that about 2,500 units of affordable housing have been lost on the North Side since 2011.
Their tally includes the conversions of several former SRO buildings in Uptown, Edgewater and Rogers Park and the shuttering of various Lakeview SROs, including the Chateau Hotel. Activists allege while some tenants have been relocated on the North Side, others who couldn’t afford market rate rent in the area or find other low-income units had to move to faraway neighborhoods — and others have ended up homeless.