Chicago city officials cut the ribbon on a brand new mixed-used affordable housing development in Englewood Wednesday.

Thrive Englewood is a six-story landmark with 62 units of family housing, two lofts and retail space. The development includes 27 one-bedroom apartments, 30 two-bedroom units, and five three-bedroom units.

Mayor Brandon Johnson said the new development is part of a longtime effort to expand access to affordable housing on the South and West Sides.

According to Johnson, more than 80% of the units in the building are fully affordable per the area's average income.

Built in partnership with Neighborhood Housing Services of Chicago, the development will also provide on-site services for families including financial education, counseling and stability resources to help residents build their financial future.

Thrive Englewood was built on a previously vacant lot.