Suburban Strategies

Developing and preserving affordable rental housing is a complex task that requires expertise in government, financing, real estate, property management and other topics. Suburban communities often lack the resources – private, public and nonprofit – to engage in sophisticated or protracted housing preservation strategies.

By working together, however, they can leverage scarce resources and ensure that badly needed affordable rental housing remains and is sustained in the suburbs.

Activities

With Metropolitan Planning Council, The Preservation Compact assists in the preservation of affordable rental housing in the suburbs in two primary ways. 

    • Integration of rental preservation into four suburban, municipal collaborations that have been set up to leverage housing expertise in the suburbs.
    • Advancement of public policy incentives and resources for preservation efforts.

The Compact’s activities to date include:

    • Community and region-specific housing data and information
    • Technical support to advise about housing grants, financing and regulation
    • Funding and support for collaboratives to implement suburban NSP with multifamily component
    • HOME funds and streamlined process for multifamily rental preservation in suburban Cook
    • Briefings for multifamily owners representing 6,000 apartments in west and northwest Cook County