Affordable Housing Talks Continue In Downers Grove IL.

Affordable housing is a concern for everyone in the real estate business.

Creating and maintaining the availability of  affordable housing within the village of Downers Grove, IL has been a topic of recent discussion by a nine member Ad Hoc housing committee set up by the village to study the issue. Downers Grove is an established suburb located 18 miles West of Chicago:

Last month in a majority vote by the city council of 6 to 3, it was decided that there was an adequate stock of affordable and attainable housing within the village.

The village defined "attainable housing" as housing for those who make more than 80 percent but less than 120 percent of the median income.

An extensive report commissioned by the village and conducted by Anderson Economic Group LLC found that the village has a high rate of tear-downs which is a primary reason for increased property values. The report found that "There is a clear need for housing that is more affordable than what exists in most of the established neighborhoods near the downtown".

The report goes on to suggest solutions for providing more affordable housing within the town.

Please e-mail me for a copy of the Anderson Economic Group report at: mailto:mikes@milestonerealtors.net

Village officials have agreed that they would be open to letting a Total Community Development group examine the committee's compiled data.

Commissioner William Waldack said that the village should not put a great deal of emphasis on a snapshot of the current housing stock, but rather the larger picture and what the future could possibly hold.

Mayor Ron Sandack said that the housing committee's report is a valuable tool and should be used while examining the issue in the future.

Officials continue the discussion on May 13th.

My thoughts are that by continuing to discuss and study the issue of  maintaining and providing affordable housing in the village, Downers Grove is taking the right steps to diversify the population and various income levels, which will only help create a more vibrant and interesting town to live in.