Mayor Lightfoot cuts ribbon for new housing, retail development in Bronzeville
CHICAGO (CBS) -- Mayor Lori Lightfoot and other city leaders cut the ribbon and broke ground Tuesday on a multimillion-dollar development in Bronzeville.
The $81.8 million, two-building project is funded by the INVEST South/West program. It is called 43 Green.
The ribbon-cutting Tuesday celebrated the opening of Phase I of the development – a $37.8 million, 10-story building at 43rd Street and Calumet Avenue.
Phase II of the development – a $44 billion, 10-story building half a block to the west at 43rd Street and Prairie Avenue. Together, the developments will hug the 43rd Street CTA Green Line station, the Mayor's office noted.
A groundbreaking was held for Phase II on Tuesday.
"I am pleased to see an equitable transit-oriented development come to Bronzeville that will enhance the vibrancy and affordability of the community," Mayor Lightfoot said in a news release. "43 Green demonstrates what can arise when a city prioritizes investing in its neighborhoods. This development will ensure that Bronzeville residents can access all the employment, educational, and recreational opportunities throughout our city via convenient transit access while promoting a dense, mixed-use, and walkable corridor."
Phase I will have 99 apartments – 51 of which will be made affordable to those who make 60 percent of the area median income – and 5,000 square feet of retail space on the ground floor, the Mayor's office said.
Phase II will have 80 units, with 40 affordable to those at 60 percent of the area median income or less – as well as 3,600 square feet of ground-floor retail space, the Mayor's office said.
Both buildings will be composed of studio, one-bedroom, and two-bedroom apartments.
The INVEST South/West initiative pours resources into 10 city neighborhoods.
