Conversion of Arbor Ridge and St. James Place to affordable housing
Summary
An out-of-state buyer wants conduit revenue bonds to buy two fully occupied apartment complexes in the 9th District and convert all 374 units to affordable rents — a plan Ald. Taylor opposes because the district would lose two of its few market-rate complexes.
At a glance
- Total mentions
- 1
- Last 30 days
- 0
Last discussed May 5, 2026.
Impact analysis
No city dollars involved; the buyer plans $2.25 million in property upgrades funded by tax-exempt financing savings.
Future tenants paying reduced, affordable rents with Fannie Mae oversight of property conditions.
Ald. Taylor argues her district loses scarce, well-managed market-rate apartment options.
Mentions & discussions (1)
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