Economic Alliance of Kankakee County releases residential market analysis for Kankakee County; opportunity for development is strong
The need for additional and affordable housing in Kankakee County is critical to the population, growth, and economic development of the community. Results from a residential housing analysis administered by Tracy Cross & Associates, Inc. found the opportunity for new residential development over the next several years in Kankakee County is viewed as STRONG.
Future residential development potentials throughout Kankakee County, and areas in and around Kankakee, Bradley, Bourbonnais, and Manteno in particular, are well suited for new market rate residential development over the next 5+ years, including rental apartments and various forms of conventional for-sale housing.
This is supported by current demand for new construction housing options, supply-side constraints, ample base of existing households, tightness in rental and for-sale sectors, and key factors already existing in Kankakee County.
Among 80 attendees, Tracy Cross & Associates, Inc. President and CEO Erik Doersching presented the findings at the Q1 2023 Economic Alliance Board of Directors meeting. View Doersching’s presentation here.
View the full program report for Q1 2023 program report from the Economic Alliance of Kankakee County here.