(Above) Attendee-eye view of the November 21 forum in Lincoln Park. Photo by Don DeBat.

By Don DeBat

28-Nov-24 – “Let us build!”

Those pro-development words were printed on panel moderator Frank Campise’s name tag at the heavily attended Lincoln Park Builders of Chicago’s 35th annual Real Estate Forum held at the Theater on the Lake on November 21.

Campise (left), principal and head of acquisitions for JAB Real Estate, seemed to sum up the mood of more than 1,000 forum attendees. Founded in 1968, Lincoln Park Builders is an honorary society of influential real estate builders, developers, managers, and principals.

“Chicago’s tiered tax structure on affordable housing is not good enough,” said panelist Adam Friedberg (right), CEO of Mavrek Development. “Other cities better-appreciate builders with greater tax incentives.”

Panelist Ciere Boatright, Commissioner of the Chicago Department of Planning and Development, seemed to be on the defensive, as builder panelists and forum attendees championed their cause. “Some things don’t pencil-in for the city,” Boatright (left) repeatedly told builders at the forum.

“Let us build and we will help reduce the city’s budget deficit,” summarized one North Side housing advocate. “Boatright hit some key talking points – including $6 billion in development that was recently approved – but everyone in the jam-packed room knew how tough the city is making things for development investment in Chicago.”

Trump term may challenge those seeking affordable housing

It is noteworthy that President-elect Donald Trump was not a topic of discussion at the forum, analysts said. Not surprising, though. With a powerful Democratic Socialist on the panel, why rock Boatright’s boat?

Nationwide, the counties where it’s most difficult to buy a home saw the biggest voter shifts toward Trump in the election, according to an NBC News analysis of housing and voting data. That widespread rightward shift underscored the severity of America’s affordable housing shortage – and may have helped Trump reclaim the presidency.

However, Trump’s imminent return to the White House poses “serious challenges” for people seeking affordable housing, warned the National Low Income Housing Coalition (NLIHC).

During Trump’s previous term, his administration tried to slash federal investments in affordable housing, sought to raise rents for Section 8 tenants, and attempted to impose more stringent work requirements for renters who rely on governmental subsidies, according to the NLIHC.