The Polk Bros. Foundation Affordable Rental Housing Preservation Award

The Polk Bros. Foundation Affordable Rental Housing Preservation Award honors a for-profit developer or a non-profit community development organization for a real estate project in the City of Chicago that has preserved affordable rental housing.

This award recognizes developers who have successfully maintained the affordability of occupied rental housing in properties at risk due to expiring affordability requirements, gentrification, or sub-standard conditions.

Government agencies are not eligible for this award. The project must be located within the City of Chicago. The project must have been largely completed since, but not before, January 1, 2020.

Projects will be evaluated for their impact on the community, the extent to which they involved residents or building tenants in the planning process, their ability to meet local needs and overcome obstacles, their creativity in design and finance, and their sponsor's willingness to share project lessons and learnings with others working to preserve affordable rental housing.

The award is $15,000.