Chicago investing billions in affordable housing: 'I am thrilled'

Chicago leaders are making the biggest investment in affordable housing in the city's history.

On Monday, Mayor Lori Lightfoot announced more than one billion dollars would be going toward affordable housing.

"Investing in affordable housing is a critical component to creating an equitable, strong city," said Mayor Lightfoot.

The money will be used to help more than 24 developments that house more than 2,400 Chicagoans. One of those developments will be located at 18th and Peoria in the Pilsen neighborhood.

The city has bought a vacant lot there and will be building affordable housing with more than 280 units.

"I am thrilled that we've been able to expand our investments in affordable housing to move us closer towards that vision for our city. I look forward to seeing these developments come to life and provide more affordable, safe housing options on our South and West Sides," Lightfoot said.