Woodlawn Residents Denied Right of First Refusal Amidst Rising Housing Costs – South Side Weekly

Other cities have tried this model. Right of first refusal programs in Washington, D.C. and San Francisco have seen more success than those in Chicago because well-funded organizations front down payments for tenants.  Christian Diaz, a housing advocate who helped write a similar ordinance for Chicago’s Northwest Side, said right of first refusal programs will continue to struggle without funding. “The city has to step in and provide real subsidies,” he said.
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MsT
1 month ago

What is the public good associated with funding down payments for people who have been unable to save a down payment and may well need to sell at the first major repair because they have no savings? How does this churning help anyone? Why not redirect the funds to reducing real estate taxes which could arguably benefit renters, either through reduced rent increases or property improvements? First we pay to build unaffordable low-income housing (e.g. $700K per unit or more) and now we pay to let low-income renters buy their units? This is incoherent, expensive, and not solving any piece… Read more »

Irish Patriot
1 month ago

By “success” they mean “shake-down”. I’ve been told in DC that the right of first refusal is a property right. Tenants have been assigning this right to investors for upfront cash payment. Investors end up buying these buildings instead tenants which sort of goes totally against the spirit of the law but it is what it is.

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