Financing Urban Resiliency: Innovative Approaches to Deliver Affordable Housing in Chicago
As cities across the globe continue to grow at unprecedented rates, the effects of globalization, urbanization, and climate change are having dramatic physical, financial, and social impacts. Today, urban areas house more than half of the world’s population and contribute to 80 percent of global GDP.1 As urbanization increases across the globe, cities need to prepare better for environmental shocks and the stresses attributed to an increase in population. For city leaders, the challenge is to foster social resilience―it will support a city’s growth as much as roads, bridges, and tunnels. In recent years, city governments have begun to focus increasingly on the importance of funding and financing social resilience strategies.