CHICAGO—Mayor Lori E. Lightfoot joined Ald. David Moore, City officials and local leaders recently broke ground on Auburn Gresham Apartments, a two-building, 58-unit, mixed-use complex in the heart of Auburn Gresham, Chicago, that represents the first of more than 10 major construction projects to move forward through the City's INVEST South/West initiative.
"I am thrilled to begin construction on Auburn Gresham Apartments and many other transformative projects on our South and West Sides," said Mayor Lightfoot. "This transit-oriented development will not only bring affordable housing and dining options to the neighborhood but will revitalize this corridor for all South Side residents to enjoy. I look forward to making continued, unprecedented investments in our targeted neighborhoods in partnership with our communities to realize their visions for their homes."
A joint venture of minority-owned Imagine Group and Evergreen Real Estate Group, the $43 million project is the result of a Department of Planning and Development request for proposals for vacant City land at 79th and Green streets. Envisioned as a single building in 2021, the proposal was subsequently refined through three community workshops that shifted more than half of the proposed units to a second City-owned site at 79th and Halsted Street.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.