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The Polk Bros. Foundation Affordable Rental Housing Preservation Award

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

This award seeks to recognize developers that have maintained the affordability of existing rental housing in properties at risk due to expiring affordability requirements 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, 2015.

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

The Award is $15,000.