The Community Development Commission has approved the sale of land for 5050 S Prairie Avenue. The site is located at the corner of S Prairie Avenue and E 51st Street, and the project is made up of multiple lots, both privately-owned lots and city-owned along 5036-5044 S Prairie Avenue. Led by KLY Development, the development will replace vacant land as well as a vacant building along the intersection.
Community Development Commission
The Chicago Community Development Commission has approved the land sale for a new residential development at 539 and 541 E 46th Street in Bronzeville. Located just west of the intersection of 46th Street and S St. Lawrence Avenue, the homes will be replacing an empty lot near Armstrong Park. Local developer R&D Builders LLC will also serve as the architect for the buildings as they work on building up the area.
The Community Development Commission has approved a supportive housing development located at 3346 W Carroll Avenue in East Garfield Park. Currently a vacant lot, the project site is an infill site along W Carroll Avenue, just off of N Homan Avenue. The property backs up to the westbound Metra tracks. Breakthrough Urban Ministries, a local nonprofit organization, will be developing the building.
The Chicago City Council has approved the Regal Mile Studios development located at 7700 S Stony Island Avenue in South Shore. The large triangular site is bound by S Stony Island Avenue to the east, E 77th Street to the north, and S Chicago Avenue to the southwest. Formerly the home of a Kmart, the almost seven-acre parcel now sits vacant. Regal Mile Ventures LLC is the developer behind the project, composed of Loop Capital and Derek Dudley, a producer of Showtime’s The Chi series.
The Community Development Commission has approved $2 million in Tax Increment Financing (TIF) money for the Oakwood Shores Phase 3 development in Bronzeville. Located on two parcels, the project is the third installment of the overall plan to replace the CHA Madden/Wells housing development. The first plot is at 616 E Pershing Road, with the second parcel located at 552 E 38th Street. Both sites are currently vacant parcels. The Community Builders is the developer behind the project.