Housing Opportunity Development Corporation (HODC), a nonprofit affordable housing developer in Chicago’s North Shore, is celebrating their 40th anniversary. Four decades after its founding, HODC remains true to its mission: to develop, manage and preserve housing that is affordable to low- and moderate-income households, primarily in Chicago’s northern suburbs.
“We have been mission driven since 1983, when we started with just 12 units. I’m proud of our growth and the fact that we provide quality affordable housing to more than 500 households,” said Richard Koenig, executive director of HODC. “But there remains so much more that needs to be done.”
Koenig has overseen operations for over 25 years, working with staff and a board of directors made up of local citizens, real estate professionals, community leaders and tenants. Together, they collaborate with grassroots organizers, local politicians and other nonprofits to make affordable housing a reality for those who live and work in the area. That includes families with children of all ages, seniors, people with disabilities, domestic abuse survivors and others in north suburban Cook, Lake and McHenry Counties.
“A majority of our residents are people who live and work locally, but have difficulty dealing with rising rents,” Koenig said. To combat this, all HODC properties are developed as affordable assets, equipped with the infrastructure to support their residents long-term. All new properties are also designed to be environmentally friendly, blending in seamlessly with the surrounding neighborhood in compliance with community standards.
Right now, HODC manages over 500 affordable housing units. However, demand drastically outweighs the supply which can leave residents enduring on waitlists for as long as five years. But new HODC plans will help alleviate the shortage.
HODC is currently expanding their services with additional projects in Deerfield, Evanston, Lake Zurich and Northbrook. Evanston’s 5th Ward Councilmember Bobby Burns is supporting HODC’s proposed project on Church Street with 33 affordable apartments for working families.
Speaking at a recent town hall, Bobby Burns voiced strong support for the proposal. “There are so many people who currently live in Evanston that would benefit from this property,” Burns said. “HODC’s other properties are well maintained and they help towards building a stronger and more resilient city.”
To support those upcoming developments, HODC is kicking off a new fundraising initiative called the Key Campaign – Opening Doors to Hope. The goal of the Key Campaign is to raise $500,000 for the predevelopment costs that come with building affordable housing projects. The funds raised will accelerate the pace at which HODC can respond to the serious, growing need for affordable housing.
All HODC expenses are powered by grants, community resources and charitable donations. So now, with only 30% left to meet their goal, the HODC board is asking for contributions to the Key Campaign. Go to hodc.org to make a donation today and help HODC grow for another 40 years — and more.
About Housing Opportunity Development Corporation
Housing Opportunity Development Corporation (HODC) takes its inspiration from Dr. Martin Luther King, who, in 1965, addressed the need for diversity, inclusion and housing equality on Chicago’s North Shore. HODC was established formally by the Interfaith Housing Council in 1983. Today, it is a community Housing Development Organization and a HUD-certified housing counseling agency.
HODC works primarily in Chicago’s northern suburbs where affordable housing remains scarce. Their mission is to create culturally rich communities by providing safe housing for families, seniors and local employers. They propel their purpose through four programs: housing development, property management, housing counseling, and community education.