Quote:
Originally Posted by BuildThemTaller
I am really enjoying the presence of Onni Group in Chicago. They don't mess around when they want to get a development underway. And they listened to the residents of Atrium Village by not leveling the existing mid-rise. It didn't seem that they kicked up too much of a fuss about it, either. It's not the prettiest thing in the world, but it's affordable housing in a quickly gentrifying area where people have lived for decades. It's great to have a developer in town that isn't just going to evict first and ask questions later. Plus, their tower cranes look cool at night.
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Eh kinda. Onni's purchase of the site for development came with restrictive covenants that would have required them to set aside affordable units in each of the highrises for the Atrium Village residents. Yes, the Mid Rise was retained because the residents in Atrium Village preferred to remain there instead of getting dispersed around the city during the initial stages of construction. However, that was only supposed to be temporary until the first buildings were completed and Atrium Village residents could move back.
Instead, Onni decided that it would be better (cheaper, more profitable) to simply retain the Mid-Rise, albeit refurbished, and concentrate all the affordable units for the project in that building rather than set aside affordable units in the new high rises. That way, all the high rises are market rate rentals.
The Atrium Village residents seemed kinda pissed about that, especially since Onni's development rep told them that they'd be locked out of the amenities for the new towers due to security concerns.
So overall this was kind of abusive.
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