Chicago aldermen to introduce plan aimed at protecting affordable housing around planned Obama Presidential Center site

Saying residents already are getting priced out of homes around the Jackson Park site of the planned Obama Presidential Center, aldermen from the area intend to introduce an ordinance this week aimed at protecting nearby affordable housing.

Former President Barack Obama himself has come out against such a community benefits agreement, saying the presidential center will stoke a South Side economic revival without a binding agreement to guarantee certain benchmarks in housing and jobs for people who live nearby.

But new Ald. Jeanette Taylor, 20th, said people living around the park in Woodlawn and Grand Crossing are clamoring for safeguards as rents and property taxes are rising now thanks to real estate speculation in anticipation of the presidential center.

Read the full article on The Chicago Tribune website.