Mayor Lori Lightfoot recently joined The Habitat Company, P3 Markets, and city officials to cut the ribbon on 43 Green Phase 1 and break ground on 43 Green Phase 2. Flanking the 43rd CTA Green Line station, the two-phase development is totaling $81.8 million in investment in Chicago’s Bronzeville neighborhood on formerly city-owned land.
“I am pleased to see an equitable transit-oriented development come to Bronzeville that will enhance the vibrancy and affordability of the community,” said Mayor Lightfoot. "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.”
With the ribbon cutting celebrating the opening of 43 Green Phase 1, the $37.8 million development has built a 10-story building that includes 99 units, 5,500 square feet of retail space and 24 off-street parking spaces. With a design from Landon Bone Baker Architects, apartments will range from studio to one- and two-bedrooms with half of the residences listed as market-rate and the other half offered as affordable units at 60% AMI. Two future retail tenants earmarked for 43 Green include Momentum Coffee and Super Cycle.
The city’s investment in Phase 1 includes $5 million in TIF funds, $3 million in Multi-Family Loan funds, and $1.95 million in 9% LIHTC allocation.
With the groundbreaking marking the beginning of construction for Phase II, the $44 million investment will build another 10-story building holding 80 residential units and 4,000 square feet of ground floor retail space. Future tenants include a UPS office and dental practice. 13 car parking spaces and 56 bike parking spaces will be provided.
With Landon Bone Baker Architects and Moody Nolan collaborating on the design, the 106-foot-tall building will include 37 units priced at 60% AMI, 7 at 50% AMI, and 36 at market-rate. The unit breakdown will include 24 studios averaging 470 square feet, 48 one-beds averaging 660 square feet, and 8 two-bed apartments that will average 925 square feet.
The city’s investment in Phase 2 includes $10 million in TIF Funds, up to $6.5 million in Multi-Family Loan funds, and $2.25 million in 9% LIHTC allocation.
In addition to bringing more affordable units to Bronzeville, the buildings were designed with environmental consideration. Some of the sustainable features include the Energy Star Certification and reduction of building energy use by 15% from the baseline, as well as a high-performance glazing and building envelope, on-site stormwater management, and an extensive green roof system. There’s also efficient LED indoor lighting and dark-sky friendly exterior lighting.
Construction of 43 Green is being led by a joint venture of Bowa Construction and McHugh Construction.