The city opts for mixed housing and shops on 4 development sites
City officials, selecting four development proposals for vacant or underutilized properties, said on Monday that the projects will refresh the housing stock and energize their surroundings on the south and west sides.
Developments on four trade corridors will represent a private investment of $ 125 million and create more than 200 residences, officials said. They announced the winners of a second round of sites offered by the city as part of Mayor Lori Lightfoot’s Invest South / West effort. The sites are located in New City, Bronzeville, North Lawndale and South Chicago.
The winners were chosen from 15 candidates for the corridors. The proposals were so strong that the city began conversations with the finalist nominees about projects that could be worth an additional $ 75 million, said Maurice Cox, Chicago’s planning commissioner.
Cox said city staff supported proposals to mix commercial and residential spaces. With the diversity of uses, “we almost guarantee the dynamism of the street,” he says. The land is mostly owned by the city, but some private owners are willing to sell, Cox said. The conditions of sale of the city land must be finalized and approved by the city council.
âWe have really been successful in using public property to catalyze private interest,â Cox said. âOverall, we looked to projects that attempted to create a public domain. “
The chosen development teams are led by minorities or have significant minority partnerships. Construction could begin in the spring of 2022. The projects could represent around 300 permanent jobs, officials said.
New city – A $ 51.5 million joint venture between Celadon Partners and Blackwood Group. It provides for the construction of an affordable 50-unit apartment building with a business center and youth programming space at 1515 W. 47e The St. Later phases would include the renovation of a building at 4701 S. Ashland Ave. into 30 senior apartments with a cafe and other improvements nearby.
Bronzeville – A $ 19.5 million joint venture between KMW Communities and LG Development with Bronzeville Community Partners. At the southwest corner of the 47e Street and Vincennes Avenue, they would build six floors containing 25 mixed-income apartments and 12,000 square feet of retail space.
North Lawndale – A $ 31.4 million proposal from GRE Ventures, Imagine Group and 548 Development. On an acre along Ogden Avenue between Homan Avenue and Trumbull Avenue, they would build 60 mixed-income apartments, three market-priced townhouses, commercial space and a community center.
South Chicago – A $ 23.5 million 548 Development project on the 8800 block of South Commercial Avenue. The block would get a new four story building with 35 mixed income units and a renovated three story building with 10 mixed income units. A cafe, business center, and bicycle shop are included.
The city launched its call for tenders targeting the four sites last winter. Planning and Development Department staff assessed responses and solicited feedback from the community before making the final call. The winners were chosen based on factors such as developer experience, minority investment, financial viability, and design elements that meet the needs of the community.
Joint ventures that were not selected for transactions in Bronzeville and North Lawndale are being considered for projects on neighboring lands. A new hotel could be involved on Ogden, officials said.
Cox said the city is working with the Cook County Land Bank Authority, which acquires vacant or dilapidated properties.
Last March, the city selected developers for commercial segments in Auburn Gresham, Austin and Englewood. Responses for a third round of requests for proposals are expected Aug. 31 and apply to two sites in Humboldt Park and one on the South Rim.
The bidding process allows the city to take into account many factors in choosing a buyer for its land and not just selecting the highest bidder.