$3.5 billion Bronzeville project to initiate in fall of 2021

.5 billion Bronzeville project to initiate in fall of 2021

Developers are planning to start building $3.5 billion Bronzeville project in fall of 2021. The $3.5 billion mixed-use development will be at the former Michael Reese Hospital site in Bronzeville. The developers are hoping that they will submit their zoning proposal to the City Council this month and with approval later this year.

The approval will create jobs and services while honouring the community’s heritage. According to Chicago Sun-Times reports, project’s timetable for the approximately 52 city-owned acre site was outlined to community residents at a Zoom meeting arranged by city planners and Ald. Sophia King. Farpoint Development partner Scott Goodman said that if the city approves the zoning, construction could start in fall of 2021.

The developers had previously said that Israel’s Sheba Medical Center would anchor a 500,000-sq. ft.  research and innovation centre in the project’s first phase. Goodman said that working opportunities for work and investment in Bronzeville will be created as the developers have agreed that 65 per cent of all businesses involved in the site must be minority-owned.

An overall 400-feet height restriction will be for the buildings. Nine acres of new parks and a community center are in the plans. There will also be Singer Pavilion the final structure for the former Reese campus, to be incorporated into the development. The published report quoted assistant commissioner at the Department of Planning and Development, Cynthia Roubik saying that the project could receive $31 million in subsidies from the tax increment financing program.

According to Roubik, most of the $31 million will be utilized for environmental cleanup at the northern end of the site, near 26th Street and Dr Martin Luther King Jr. Drive, where a radium processing plant operated in the early 1900s.

Guest Writer

Related Posts
Illinois Set to Enact New Law Limiting Criminal Convictions in Employment Decisions
Illinois has long limited employers from considering the criminal history of an applicant or employee
$31 million building permit issued for 12-story Fulton Market building
Chicago has issued a $31 million final building permit for 12-story office building at 237
Village of Machesney Park Celebrates 40th Anniversary
On Wednesday, February 24, 2021, the Village of Machesney Park will celebrate 40 years since
Developers break ground on three-building $25 million mixed-income housing project on Chicago’s Near North Side
Evergreen Real Estate Group and Structured Development say they have started construction on Schiller Place Apartments,
Postgame Central at Green Bay Gamblers
GREEN BAY, WISCONSIN — The Chicago Steel (19-6-2-0; 40 pts.) scored six goals in the
Two Federal Defendants Indicted on Charges Related to Attempted Escape from Sangamon County Jail
SPRINGFIELD, Ill. – Two federal defendants who were housed at the Sangamon County Jail, in
Deininger Floral Spreading Love To More Than 540 Residents On Valentine’s Day
FREEPORT, ILLINOIS — Whether during a pandemic or “normal” times, Valentine’s Day or no holiday
FHN Expands Mammogram Hours In Freeport
FREEPORT, ILLINOIS — Though it’s tempting to let things “slide” as we practice pandemic safety
Federal Indictment Charges Department of Veterans Affairs Procurement Supervisor With Pocketing Kickbacks
CHICAGO — A procurement supervisor at the Jesse Brown Veterans Affairs Medical Center in Chicago
Illinois Supply Chain Management Training Program
State of Illinois and ASCM Launch First-of-its-Kind Training Program to Prepare Residents for Jobs Fuled