Mayor Brandon Johnson | Mayor Brandon Johnson (https://www.chicago.gov/city/en.html)
Mayor Brandon Johnson | Mayor Brandon Johnson (https://www.chicago.gov/city/en.html)
Department of Planning and Development 312.744.9267
A $42 million mixed-income, mixed-use apartment complex will be constructed in Grand Boulevard following a City-owned land sale approved by City Council on June 21.
Planned for 601-21 W. 47th St. by Bella Noir LLC, the 27-unit project will be built on .63 acres of vacant City land to be sold for its appraised value of $784,000. The project site also includes two adjacent lots already owned by the developer.
The 100,000-square-foot complex is planned to include 14,000 square feet of commercial space for a pharmacy, fitness center, medical offices, and office space for the non-profit Lyric Foundation, which provides youth scholarships for after-school education. Bella Noir is a foundation subsidiary that provides real estate development services.
The project will also include three affordable residential units for tenants earning up to 60% of the area’s median income, in accordance with the City’s Affordable Requirements Ordinance. Thirty-seven parking spaces will be available for building tenants and visitors.
The project is expected to create up to 250 construction jobs and 130 permanent jobs.
Original source can be found here.
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