A market analysis of four low-income housing developments constructed in four growing Chicago, Illinois, suburban market areas.
Written in 2006; 1,910 words; 5 sources; MLA; $ 60.95
Paper Summary:
This paper presents a market analysis and assessment of four low-income housing development projects in Chicago and their impact on surrounding residential neighborhoods. The study conducted was designed to determine whether or not such housing projects have negative effects on surrounding neighborhoods and considered such factors as design and construction quality, building density, the presence or absence of litter, landscaping, ages and conditions of parked cars and window treatments. Also considered by the study were the number of children in the complex and their ages. The study was conducted assuming that the projects were adequately managed and fully occupied and the residents occupying the development project met government-established income criteria. The study found that the stereotype that low income housing projects negatively affect surrounding residential neighborhoods is not necessarily true and, moreover, low-income housing built right in our backyards might have no effect at all on property values.
From the Paper:
"Although the specific loan guarantees, tax credits, or rent subsidy programs varied between the four projects, all were entirely either low-income or very low-income family housing developments in developing suburban areas. The quality of the management of the projects chosen could not be determined in advance. As it turned out, all of the projects chosen for the study appeared to be adequately managed and were fully occupied. Therefore, the conclusions assume competent management-not an insignificant factor. Because of the prevailing image of low-income housing, some measurable negative impact was expected; the method developed for analyzing the projects attempted to account for this impact."
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