It’s no secret. There is not enough affordable housing in the United States to meet the demand of those looking for lower-cost apartment units or single-family homes. Illinois is no exception: The state needs more affordable housing to meet the rising demand for it.
That was the key takeaway from Illinois Real Estate Journal’s Illinois Affordable Housing Summit held April 25 at Maggiano’s Little Italy in the Chicago suburb of Oak Brook.
A crowd of CRE professionals gathered to hear the latest news on the affordable housing industry. Speakers focused on the rising need for this type of housing, the steps private companies and governments are taking to increase the stock of this lower-cost housing and the hurdles preventing even more affordable units from hitting the market.
The event kicked off with the Affordable Housing: Current State of the Market panel, which featured insights from speakers Timothy Williams, Real Estate Agent, eXp Realty; Kristin Faust, Executive Director, Illinois Housing Development Authority (IHDA); Will Woodley, Senior Vice President of Real Estate Development, The Community Builders, Inc.; Heather Morrison, Chief Executive Officer, Morrison Architectural Planning Strategies; and David Doig, President, Chicago Neighborhood Initiatives.
Speaking on the Capital Market Strategies for Affordable Housing panel were Ann McKenzie, Experienced Public Private Partnership Deal-Maker; Ron Clewer, Market President, Community Revitalization and Public Housing Partnerships, Gorman & Company; Stephanie Socall, Senior Vice President, Loan Origination Services, Cinnaire; Kyle S. Shoemaker, Managing Director, Affordable Housing Investment Brokerage, Inc.; and Teresa Rubio, Senior Vice President, Associated Bank Community Development.
The event concluded with the Regulated & Unregulated Affordable Housing panel. Speaking on this panel were Jeff Head, Vice President of Development, Habitat Affordable Group; Mercedes Miley, President, Farr Associates Architecture & Urban Design; Amy Olson, Senior Counsel, Costello Sury & Rooney; Tony Hernandez, President and CEO, Hispanic Housing Development Corporation; and Jennifer Parks, Executive Director, Habitat for Humanity Chicago.
