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Increasing Diversity in Wilmette Real Estate

Today in class we discussed the debate over the addition of affordable living in Wilmette, IL. As a resident of Wilmette, I took it upon mys...

Tuesday, November 10, 2015

Increasing Diversity in Wilmette Real Estate

Today in class we discussed the debate over the addition of affordable living in Wilmette, IL. As a resident of Wilmette, I took it upon myself to further my knowledge on the controversy. Wilmette is full of beautiful homes, that are not affordable to many.  The Wilmette Village Board recently approved a $4.1 million dollar contract with M & R Development, and as a result the developer agreed to donate $80,000 to providing living for the lower-income residents. This kind act has sparked a debate across the town of Wilmette. Could the money be put to something more beneficial to the town than affordable housing? 

The average cost of a home in the United States is $188,900,  while the average cost of a house in Wilmette is around $800,000. This statistics show that buying a house in Wilmette is about 423% higher than the US average.

Many residents believe that the addition of affordable housing is taking away from "the image" of Wilmette and could lead to higher crime rates along with many other negative impacts. The development is being urged to contain 15% low priced units. Many believe that the donations should be put to providing housing for the elderly and disabled rather then just simply those who take in low-income. It doesn't seem fair for residents to prevent anyone from living in such a great neighborhood like Wilmette. Even those with lower than average income rates should have the access to the benefits of living in a town like Wilmette. Several hearings are planning for the next 6-8 months before a decision will be made on what to do with the $80,000. 

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