Chicago to invest $300 million in 15 affordable housing projects

Mayor Brandon Johnson on Wednesday announced the city is investing more than $300 million into 15 affordable housing developments across the city.

The funds will help create or preserve more than 1,223 homes in Chicago, including 1,164 affordable units, according to the mayor's office.

"These 15 developments will stand as proof that we are creating an easier and more collaborative environment for the city to work with developers, but to work with the community to ultimately build better together," Johnson said.

The mayor said 13 of the 15 developments are transit-oriented, meaning they are located within a half-mile walk of a train station or high-frequency bus route.

The total cost of the 15 developments I estimated at $711, which includes both public and private funding.

The mayor's office also announced the city is selling more than 600 vacant city lots across Chicago.

According to the Department of Planning and Development, they're being sold at market rate and can be used for affordable housing, urban agriculture, or side yards.

The lots went on sale on Wednesday, and you can brows the listings at chiblockbuilder.com.