On Thursday, Feb. 18, 2016, Mayor Rahm Emanuel announced an initiative to further drive neighborhood development. The proposal seeks to reform an existing ordinance to allow developers to obtain additional square footage for construction projects in the downtown area, in exchange for investments that support neighborhoods in need.
The City’s current Zoning Board Ordinance enables additional square footage in downtown development projects in exchanges for projects that provide limited public benefit. The Mayor’s initiative aims to revamp the current system by eliminating outdated bonuses, closing loopholes and establishing a new funding source for economic development projects in underserved neighborhoods.
The Chicago Association of REALTORS® is reviewing the ordinance and its potential interaction with the Affordable Housing Ordinance. Developers who have insights on the effects of this expanded zoning district are asked to contact Senior Director of Government Affairs Brian Bernardoni with information.
- About Us
-
-
About Us
The Chicago Association of REALTORS®, the “Voice for Real Estate” in Chicago since 1883, represents 17,000 members from all real estate specialties including commercial sales, development, property management, appraisal, auctions and residential sales.
-
-
- Membership
-
-
Membership
Learn how we help our 17,000 members. Membership options are available for licensed real estate professionals and those affiliated with the real estate industry!
-
-
- Events & Networks
-
-
Events & Networks
Connect with Chicago real estate communities! Organized by our own members, we host almost 70+ virtual and in-person events every year.
-
-
-
- Classes & Training
-
-
Classes & Training
REALTORS® Real Estate School offers all kinds of real estate licensing and training. Browse self-paced, online training or live classes in our modern, downtown classrooms!
-
-
- REALTOR® Resources & Support
-
-
Resources & Support
How can we help your business succeed? Your membership includes multiple resource guides on industry topics, tools to increase your knowledge and market statistics to help your serve your communities.
-
-
- News & Media
-
-
News & Media
Get the latest in Chicago real estate news. Plus, explore the insight and resources available in the Chicago REALTOR® Magazine digital issues.
-
-
- NAR Settlement Resources
-
-
NAR Settlement Resources
Chicago Association of REALTORS® members can explore these pages and quick links to prepare for the industry changes taking effect by August 17, 2024.
-
-