The Habitat Company's Asbury Plaza, which recently underwent a major renovation, extended its affordable housing program for 15 years.

With hundreds of thousands of affordable units across the country at risk of being converted to market-rate housing, the race is on to preserve the existing stock of affordable residences, particularly in highly desirable areas where the cost of living has soared. Taylor Johnson client The Habitat Company is among the firms protecting the supply of affordable units in Chicago, recently executing a 15-year extension of the affordable housing program at Asbury Plaza, a 384-unit mixed-income community in the city's popular River North neighborhood. Matt Fiascone, president of The Habitat Company, discussed the importance of the program and broader need for affordable housing in a recent interview with Multi-Housing News.