Return of the Urbanites: The new face of urban renewal has revitalized Chicago’s hub

Derek Hyra, Ph.D.

This recent article by Sheryl Nance Nash in INSIGHT Magazine, published by the Illinois CPA Society, quotes UAP professor Derek Hyra:

"Ah, the heady days of 1949-1974, when urban renewal was at its prime. It was then that a major national undertaking to remove blighted properties and poverty from areas surrounding central business districts took place—in Chicago as well as other urban centers. Between 1949 and 1962 alone an estimated $3 billion was spent on this initiative. Adjusted for inflation, that estimate approaches $17 billion in today’s economy. When added to the renewal funds deployed between 1963 and 1973, the total cost of urban renewal likely exceeded $30 billion (in contemporary dollars), writes Derek Hyra in the Urban Affairs Review."  Read more at http://www.icpas.org/hc-insight.aspx?id=20631.