Heard on the Street: affordable housing collaboration, why it’s expensive to be poor, and a strong startup ecosystem

Heard on the Street – here’s what we were reading last week:

Foundations pledge $4.9 million in new affordable housing initiative: Founding members The Annie E. Casey Foundation, Bill & Melinda Gates Foundation, Conrad N. Hilton Foundation, Ford Foundation, The JPB Foundation, The Kresge Foundation, John D. and Catherine T. MacArthur Foundation, Melville Charitable Trust, and Oak Foundation formed the collaborative Funders for Housing and Opportunity to make “catalytic investments in activities that ensure stable housing in thriving communities.”

How Illinois Universities Power The Chicago Startup Ecosystem: Illinois produces a record number of STEM degrees, outpacing the rest of the nation. According to the Illinois Science and Technology Coalition, these STEM postdocs are increasingly applying their skills and training to entrepreneurship.

It’s Expensive To Be Poor: Poverty is a cyclical issue, and in order to break the cycle, “there needs to be intervention or systems change, and that starts with gaining empathy and understanding into why and how it is expensive to be poor.”

As Obama Presidential Center comes closer to reality, tensions on race, class surface: “The Obama Foundation’s plans to build the Obama Presidential Center in Jackson Park have sparked a complicated, and at times emotional, conversation about race, class, segregation, privilege and power on the South Side.”