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CHA To Swear Off The Three-Way?

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The Chicago Housing Authority's (CHA) accepted three-way formula for income mix was called into question Tuesday by CHA CEO Charles Woodyard. Speaking at a Near West Side development meeting, Woodyard expressed desire in easing the ratio that governs all its new housing projects. The policy—One-third public housing, one-third affordable, and one-third market rate—may get kicked to the curb in favor of case-by-case ratios friendlier to developers in difficult economic times. Coincidentally or not, Related Midwest was also at the meeting pitching modified plans for another stage of Roosevelt Square construction just south of UIC. Related wants to go 80:20 on 120 rental units, with 24 set aside for public housing. And, as it scales down its commitment to affordability, Related wants the city to extend the life of the TIF financing district blanketing Roosevelt Square. Way to play the game, guys. [Crain's, previously]