Development in Bronzeville, Chicago
Bronzeville is an iconic neighborhood on Chicago’s near Southside. Historically, Bronzeville is known as Chicago’s “Black Metropolis” for which the residents created a thriving Black community from the 1920’s to 1950’s with business, culture, and community institutions that were not subject to racial restrictions that were seen in most parts of the city at that time. Bronzeville has a rich, proud history, hosts many historic landmarks, and is filled with gorgeous architecture of the Gothic, Romanesque, and Queen Ann styles. While we love the historic roots, proximity to the lake and beautiful architecture of Bronzeville, we are also excited about the increased development occurring across the neighborhood.
Grey Stone Buildings on South Dr. Martin Luther King Jr. Drive. (Photo by Bill Healy) Image from "South Side," by Natalie Moore. Distributed by St. Martin's Press. (Bill Healy / HANDOUT)
Since the mid 2000’s, Bronzeville has experienced a surge in development, from single family homes to large commercial developments. A handful of the development projects that have completed and are in the works are detailed below.
In 2016, an initiative called ‘The Parade of Homes’ launched the construction of 42 single family homes on vacant lots throughout the 3900 to 4500 blocks on Prairie, Calumet and Indiana Avenues. Home prices started at $589,000. Construction of SFH and row-homes has continued since as has the steady increase in home values.
In 2020, 4400 Grove opened, replacing the Chicago Housing Authority’s Washington Park Homes that were demolished in 2002. This $38 million development includes 84-units comprising 38 affordable, 21 public housing and 25 market-rate apartments. There are also 8,000 square feet of retail and commercial space filled with local businesses.
A 100-acre site, once known for the Michael Reese Hospital has a $3.8 billion dollar overhaul in the works. This development is called the Bronzeville Lakefront, which will boast 80 acres of development with retail space and market rate and affordable housing, 2 miles of lakefront, 9 acres of green space consisting of new parks and walking trails, a new 31st street Metra stop, and a community center. In addition, the site will include the ARC Innovation Center, a research division of Israel’s Sheba Medical Center, adding professional jobs to the area.
Bronzeville also has big plans for the vacant land next to the 43rd street Green Line stop. A $100 million mixed use development is set to begin in June 2021 and is estimated to take 14 months to complete. This transit oriented building will include 99 apartments and 6,000 square feet of retail space.
This month (April 2021), a mixed-income development broke ground on Pershing and S Rhodes. The $17.1 million dollar project will include 53 apartments, 7,000 square feet of amenity space and 3,500 square feet of retail space. It is expected to be finished in February 2022.
This development is extremely exciting for current and future residents, and there doesn’t seem to be an end in sight. It is a key reason as to why Connect Real Estate Capital has selected Bronzeville as the location of our most recent purchase and we look forward to the positive impact it will have on the value of the community, our assets and for our investors.
