Good things tend to come in threes and the Chicagoland Apartment Association wants to give credit where credit is due. Mayor Johnson's recent efforts for more vibrant real estate development by streamlining processes and cutting red tape deserves high praise. This an issue that is paramount for housing developers looking to invest in Chicago.

As we continually look for meaningful solutions to address housing affordability and access in our city, these measures are essential for addressing the pressing challenges facing our community. There is an urgent need for more affordable and market-rate housing options in Chicago. It is imperative we take decisive action to expand housing supply and increase affordability. Loosening restrictions for housing developers will encourage the construction of new housing units, including both affordable and market-rate options. Streamlining the development process, reducing bureaucratic hurdles, and providing incentives for developers can help stimulate investment in housing construction and bring much-needed inventory to the market. Moreover, increasing housing supply can have a ripple effect on the broader economy. Not only does it create jobs in the construction industry, it also fosters economic growth by attracting new residents, businesses, and investment to our city.

We also applaud the administration's approval of the LaSalle Street project with the conversion of four outdated Loop office buildings into over 1,000 apartments; a promising step toward revitalizing our city's central business district. While this project builds upon previous initiatives, such as the LaSalle Street Reimagined Initiative, this effort extends the vision further. Bolstering a commitment to re-evaluating and enhancing initiatives that began with the previous administration’s Invest South/West underscores the administration’s dedication to equitable development across all areas of Chicago.

Finally, the recent $1.25 billion bond authorization to fund housing, economic and cultural development programs received a 48-0 vote by City Council. As we continually look for meaningful solutions to address housing affordability and access in our city, these measures are essential for addressing the pressing challenges facing our community. Public funding like this can be maximized when invested cooperatively with private development to address housing shortages. By embracing a proactive approach to expanding housing supply, seeking solutions, and facilitating cooperation, the administration is taking a meaningful step towards paving the way for much-needed investment in both our neighborhoods and the downtown area.

A diverse and vibrant housing market is essential for Chicago's long-term prosperity and competitiveness. The efforts to foster a partnership approach with developers, rather than adopting an adversarial stance, is a welcomed shift. We can address affordability challenges, promote economic vitality, and create a more equitable and inclusive city for all residents.

Overall,  the administration's steps towards a forward-thinking approach to real estate development are cause for optimism. The focus on finding ways to say "yes" from the city's perspective demonstrates a refreshing willingness to prioritize progress and overcome challenges. We look forward to seeing continued progress and collaboration as we work to shape a vibrant and inclusive future for Chicago.