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Why Chicago's apartment developments are headed toward all-electric

May 21, 2024

A Chicago Business Journal article by Wendell Huston

It’s a safe bet that future development of multifamily housing in the Chicago area will be all-electric as more local municipalities mandate it to reduce fossil fuel use and as developers seek to reduce their overall costs.

That’s what Preservation of Affordable Housing Inc., an active multifamily investor in Chicago, is predicting.

The Boston-based nonprofit is currently developing Fifth City Commons, its first all-electric multifamily building in Chicago, with plans to begin converting an existing gas-powered multifamily building in Austin to all-electric sometime next year.

“Electric buildings are pretty much the standard these days in Chicago,” said Bill Eager, senior vice president of real estate development for the Midwest at POAH. “Moving forward, you will see more and more all-electric buildings being built.”

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