Chicago Mayor Brandon Johnson have unveiled “Build Better Together,” an economic development strategy encompassing public-private partnerships and cross-collaborations between city agencies.
Johnson introduced the initiative focusing on affordable housing development, encouraging business innovation and investments into Chicago neighborhoods. The mayor debuted this endeavor at a ceremony marking the transition of 79 W. Monroe as Chicago’s first office-to-residential conversion.
This is the latest economic development endeavor for Johnson, who introduced his “Cut the Tape” program in December 2023 and a $1.25 billion 2024-2028 Housing and Economic Development bond in June 2024. Johnson did not provide a timeline for specific projects nor a budget for financing the initiative – Chicago under Johnson’s leadership is operating with a $1 billion deficit, and last December he was forced to withdraw a proposed $68.5 million property tax hike following pushback from the City Council.
“To drive development, growth and meaningful achievement in a city as large and diverse as Chicago, we must include all sectors and citizens – from businesses, institutions and government to the residents of all 77 community areas,” said Johnson. “Build Better Together will maximize the connections between all stakeholders and accelerate the development of infrastructure and assets that will not only enable successful change and progress in the near term but also foster a culture of continuous improvement.”
