Chicago Mayor Brandon Johnson gave a great answer last night when Tahman Bradley asked how Chicago can lower rents. “Build more units. That’s the answer. Right now we do not have enough of the supply and because the demand is so strong, with limited supply you know, landlords and... other developers are able to grow those prices.” Here’s how he can actually make that happen ⬇️show more

Johnson has pointed to his “Cut the Tape” initiative as evidence of efforts to spur development in Chicago by making it easier to build. But a great analysis of the mayor’s progress on that initiative by @LyLenaEstabine found most of that red tape remains tangled. Cut the Tape includes some great recommendations for reform, like scrapping Phase 1 and 2 environmental reviews on pre-cleared city lots, converting vacant storefronts to housing without discretionary rejections, allowing barber shops and nail salons to open without a Zoning Board of Appeals hearing, and repealing parking minimums. But none of these recommendations have been implemented.

And Cut the Tape doesn’t include some of the most effective reforms available to spur more building.

Go deeper by subscribing to The Last Ward ⬇️

𝐖𝐞𝐚𝐥𝐭𝐡𝐲 𝐄𝐥𝐢𝐭𝐞 𝐅𝐞𝐚𝐫𝐬 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧 Scott Galloway, multi-millionaire professor, gives dire warning about the decline of American capitalism, expanding wealth inequality and far-right CEOs. ★ NEW ARTICLE ⬇️

@tahmanbradley And speed up the ability to approve zoning. Stop letting some random 75 year old block 500 units from being built too. Aldermen will just sit on some development for 3 years before any movement. It is ridiculous

@tahmanbradley At $800k a unit construction costs we can’t afford his contractors, make the bidding process public @AJManaseer

@tahmanbradley People who have never risked $1 of their capital always tell others to risk their capital. Stop electing people who have never accomplished anything.

@tahmanbradley Get moving, the south and west sides are overflowing with vacant lots. Then maybe the kids can start going to those under utilized schools CTU insists on keeping open.

@tahmanbradley Lowering taxes works too

Good recommendations. I’d add Reform DOB to allow for faster approvals for renovation/repurposing. My experience with a minor factory renovation was very slow and costly. Every restaurant buildout/expansion I’ve talked to has had a similar experience. Code is not digestible for someone doing it the first time. Renovations that take a construction crew 3-6 months should not have 12 -18 months of planning and approvals.

@tahmanbradley Not a single unit will be built before he loses the next election