Abraham Lacy’s Post

View profile for Abraham Lacy, graphic

President, Far South Community Development Corporation

BUILT IN ONE DAY....let that sink in for a minute. Just imagine how many single family homes can be built if the City would create a better process in releasing the city-owned vacant properties. Think about it. It's been reported that the city has 10,000 vacant lots - mostly on the south and west sides. Hypothetically, if all 10,000 vacant lots were developed (at minimum) into single family homes and let's say the average property tax for a 1,700 square foot new single family home was $3,000 annually, the City would potentially generate an additional $30 million annually in just property tax revenue. And most of these city-owned vacant lots have been vacant for more than 20 years. So, let's do the math again. $30 million annually multiplied by 20 years equal $600 million. So, if my math is correct, our communities mostly on the south and west sides have been robbed of nearly $600 million in programs and services that are generally paid through property taxes. Not too mention loss of equity, wealth, and stability for the community. Think about the retail industry that counts rooftops and measures the vacancies in our neighborhood to determine if they will invest into our communities. Thanks to companies like Kinexx Modular Construction, you can assemble a single family home in a single day. Our organization is slated to do similar modular homes but we are still waiting for the city to release the vacant lots we requested. Great job to all for pushing through and accomplishing this amazing task for Roseland.

View profile for David Doig, graphic

President, Chicago Neighborhood Initiatives

Great news from Roseland! The first of what will be over 100 new homes in Roseland’s Kensington Park neighborhood was built today … yes, all in one day! CNI is working with Hope Center Foundation and Kinexx Modular to develop these attractive, 1,680 square foot, single-family homes priced in the low $200,000’s. The location of these homes is one block from the soon to be built CTA Red Line Station at 115th and Michigan. Shenita Muse Joshua Braun Tony Beale Kimberly Morris Annette Washington Jennifer Bransfield Paul Tebben, AIA Jamell Meeks Nick Brunick https://lnkd.in/eBEAvtJB

Group aims to restore Roseland, South Side communities with affordable modular homes

Group aims to restore Roseland, South Side communities with affordable modular homes

abc7chicago.com

Juan Saldana

Principal at P3 Markets

9mo

Hi Abraham- we proposed a modular housing cooperative to The Chicago Prize... perhaps we can collaborate on solving affordable housing challenges together. 😉

Like
Reply
Trish C. Gordon MBA, PMP

Founder Urban Advocates | Speaker | PMO & Project Manager Commercial Real Estate

9mo

I have been waiting for this!

Regina Johnson, CPhT

Certified Operations Retail Manager / State of IL Responsible Vendor Trained / Certified Pharmacy Technician / Team builder / Create Leaders / Result Driven Through Performance Metrics / Completed 75h Real Estate Course

9mo

Thanks for posting

Like
Reply
See more comments

To view or add a comment, sign in

Explore topics