Aldermen want to 'put a brake' on gentrification along The 606

Tearing down older homes or turning two-flats into single-family homes could get more expensive in neighborhoods along the western part of The 606 trail.

Aldermen Proco “Joe” Moreno, 1st, and Roberto Maldonado, 26th, are drafting an ordinance that would increase the demolition fee for residential properties and charge a deconversion fee when multiple-unit buildings are turned into single-family homes within a still-unspecified area.

Maldonado said the aim is to preserve existing housing stock and affordable housing in areas near The 606, the popular bike and pedestrian trail built on an old elevated railroad line.

“It is to try to put a brake on the pace of gentrification that is going on to the north and south boundaries of The 606,” he said. “It’s twofold — to slow down the pace of gentrification and to create a fund for those existing homes to be improved for home and building owners and their tenants.

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