A $48.3 million mixed-use housing project, spearheaded by Chicago Neighborhood Initiatives, has been selected as the winning respondent to a City of Chicago request for qualifications (RFQ) for a site at the southwest corner of Michigan Avenue and 115th Street in Roseland. The announcement was made by Mayor Brandon Johnson.
"I congratulate the Chicago Neighborhood Initiatives team on being the winning respondent and thank them for their efforts to serve and revitalize our neighborhoods," stated Mayor Johnson. "My administration sees housing as the foundation for safe, affordable and thriving communities, and we are proud to select this mixed-use housing project in a community area that needs further investment."
The development, named 1Fifteen at Michigan Station, will include 58 affordable apartments and 23,000 square feet of ground-floor commercial space. It will replace two acres of vacant city land adjacent to the planned Michigan Avenue Red Line Extension (RLE) station. Of the residential units, twenty-seven will be available to tenants earning 80% of the Area Median Income (AMI), with thirty units designated for residents at 60% AMI and one unit at 30% AMI.
Ground-floor tenants are expected to include a grocery store, market hall for small businesses, and a restaurant. The co-developers involved in this 97,000-square-foot complex are Far South Community Development Corp. and Hope Center Foundation. The design team comprises Gensler and Beehyyve.
“The size and scope of the project is a direct response to the community’s goals, so we’re thrilled to advance a vision that’s been a generation in the making,” said Department of Planning and Development (DPD) Commissioner Ciere Boatright.
Potential assistance from the city could involve Tax Increment Financing, bond proceeds, Low Income Housing Tax Credits, and a land write-down. A redevelopment agreement along with zoning plans may be proposed to City Council later this year with construction possibly commencing in 2027.
The property was acquired by the city starting in 2005 after Roseland Plaza shopping mall was closed and demolished.
The RFQ was issued in December 2022 aiming to leverage transit-oriented development opportunities along the RLE route while creating an anchor for further commercial corridor investments following decades of disinvestment due to industrial job losses since the early 1970s.
Three responses were received from this RFQ process which were evaluated based on criteria such as project readiness, financial viability, development team experience and diversity, along with input from community representatives.
Given its strategic location near Roseland’s Michigan Avenue shopping district, this site is identified as a “catalyst site” within CTA and DPD’s RLE Transit Supportive Development Plan adopted by the Chicago Plan Commission in May 2023.
Parking facilities for building tenants and visitors remain under consideration pending finalized designs for an adjacent CTA parking lot.
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