Thanks to Federal Assistance, Low-Income Americans Live in Luxury Apartments in Chicago

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Heritage Foundation:

The U.S. inspector general estimates that 25,226 households occupying public housing units exceed the Housing and Urban Development Department (HUD)’s 2014 eligibility income limits.

 

In New York City, one household was making an annual income of $497,911 and living in taxpayer-funded public housing.

 

The public housing income cap in New York City is $67,100.

 

According to the New York Housing Authority, allowing “over-income” families like this to reside in public housing is “beneficial.”

 

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For its part, HUD does not encourage housing authorities, like the New York Housing Authority, to require over-income families to find market-rate housing.

 

The U.S. inspector general estimated that HUD will pay more than $104 million in the coming year for public housing units occupied by families that exceed income thresholds.

As a result of this lapse, HUD is unable to assist 25,226 qualifying (read: genuinely low-income) households.

 

Meanwhile, the Chicago Housing Authority (CHA) used federal tax revenue and the federal housing voucher program to place low-income residents in luxury high rises.

One luxury building used by voucher holders, 500 North Lake Shore Drive, qualifies as the most expensive apartment building in downtown Chicago, according to Chicago Real Estate Daily. Rents for a one-bedroom approach $3,000.

A voucher holder living at 500 Lake Shore Drive has access to 30,000 square feet of amenities including a landscaped roof terrace with outdoor pool, sundeck, private cabanas, grills, a fire pit, and a luxury Equinox gym with views of Lake Michigan.