- Credibility:
CHICAGO — Four large developments will bring $200 million worth of investment to the South and West sides.
The four projects were selected by the city during the latest round of requests for proposals for the Invest South/West initiative. In all, the projects will create 215 residential units and 40,000 square feet of retail space in neighborhoods on the South and West sides, according to a Mayor’s Office news release.
The projects were selected after months of being reviewed by the city and community members, according to the city. They’ll be “refined” in the months to come as developers seek community input on the plans and try to get approval from City Council and other entities.
Groundbreakings for the projects could begin this spring.
The city is looking for proposals for the next round of Invest South/West, with applications due by Aug. 31. Information about applying is available online.
The winning projects:
United Yards
This $51.5 million project will redevelop a vacant lot at 1515 W. 47th St. into a 50-unit affordable apartment building, according to the city. The ground floor of the building will have a business hub and space for youth programs.
Future phases of the project will develop a mostly vacant four-story building at 4701 S. Ashland Ave. into 30 apartments for older people with a ground-floor coffee; redevelop vacant land at 1641 W. 47th St. into affordable three-flats and renovate retail space, parking and park space at a supportive living center at 4707 S. Marshfield Ave.
The project is led by Celadon Partners and the Blackwood Group.
The project will create 44 permanent jobs and 330 temporary construction jobs, according to the city.
Legacy District
The Legacy District is a $19.2 million project that will turn .6 acres of vacant land at 47th Street and Vincennes Avenue into a six-story building, according to the city. It’s led by KMW Communities and LG Development with Bronzeville Community Partners.
The project’s building will have 12,000 square feet of commercial space and 25 mixed-income residential units.
The project will create 174 permanent jobs and 140 temporary construction jobs, according to the city.
Lawndale Redefined
The $31.4 million Lawndale Redefined project will turn an acre of vacant land and turn it into 60 mixed-income apartments, three townhomes and retail and restaurant space, according to the city.
The project will also have a standalone community center with technology and arts programs. There will be an outdoor plaza with public art.
The project will create 30 permanent jobs and up to 120 temporary construction jobs, according to the city.
Lawndale Redefined is led by GRE Ventures, Imagine Group and 548 Development.
Galleria 89
Galleria 89 is a $23.5 million project in the 8800 block of South Commercial Avenue. The developers, 548 Development, will take .6 acres of properties and create a four-story building with 35 mixed-income apartments.
The developers will also rehab an existing three-story building so it will have 10 mixed-income apartments.
The two buildings will have 12,000 square feet of ground-floor retail space, which will have a cafe, business center and bike shop.
The project will create more than 60 permanent jobs and more than 100 temporary construction jobs, according to the city.
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