Episode 351: Obstacles Affordable Housing Developers Face in Illinois with Richard Koenig

Jan 30, 2025

56:27

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Richard Koenig is HODC's Executive Director and has led the development of over 600 units of affordable housing!

Richard starts with how he found his "Why" and discovering that he wanted to dedicate his career to helping solve the lack of affordable housing. He gets granular on the financing and approval process on these types of developments. Richard compares market rate housing to affordable housing including cost to build and tenant screening. He shares advice on how smaller investors can help contribute to the affordable housing issue and make a positive impact in their community!

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Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Richard Koenig, Housing Opportunity Development Corporation (HODC)

Link: SUCI Ep 283 - S.I. Container Builds

Link: Homelessness is a Housing Problem (Book Recommendation)

Guest Questions

01:48 Housing Provider Tip - The legal way around HOA rules about lease terms!

03:47 Intro to our guest, Richard Koenig!

08:15 Financing and tax credits for affordable housing development.

14:32 Guidelines for affordable housing designation.