INVEST South/West RFP Community Presentation: New City/Back of the Yards
Chicago Department of Planning and DevelopmentRemote
This is a remote meeting. Register via Zoom or watch live at https://www.youtube.com/c/ChicagoDPD/videos.
Check the source website for additional information
Reporting
Edited and summarized by the Chicago - IL Documenters Team
INVEST South/West proposals for Back of the Yards
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’s INVEST South/West's Back of the Yards (New City) community meeting on the top development proposals for 47th & Justine for @CHIdocumenters
Follow this thread for updates starting at 6 pm CST
05:59 PM May 13, 2021 CDT
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Meeting was linked to be streamed on Vimeo, but it is actually being live streamed on YouTube. You can follow LIVE here
youtube.com/watch?v=bZMIYl…
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chicago.gov/city/en/sites/…
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These Request for Proposals (RFPs) are a way to solicit development proposals for city-owned land.
They're intended to "spar development for corridors" on the city's South & West sides
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Tonight there are 3 RFPs https://t.co/V3QeDNu95b
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(Park Row Development LLC & Churchill Stateside Group team)
A video is being presented about mixed used developments to revitalize this lot.
Affordable housing, jobs, and community wealth are key points in their building
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$19.8 million is the assumed cost for this 15,000 sq ft space w/construction beginning in 2022.
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50 rental units are proposed.
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The development team notes unexpected delays.
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All units can be “converted” to accessible and sensory units
Est that this will be completed by Dec 2023
380 jobs are estimated to be created with ~325 to be construction jobs
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They note their proposal doesn't include housing, but will focus on entrepreneurship and encouraging home ownership
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One public commenter has noted that she'd love to see a library in one of these proposals. Says libraries are needed in the community more than more apartments and rental units.
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Reduction in carbon emissions, renewable energy, water conservation, and other sustainable building and maintenance practices will be at the center of this development.
Green space, composting will help reduce waste
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Latinx and women owned businesses will be among the retailers and eateries occupying the space to create a “circular economy”
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“A systemic approach to economic development designed to benefit businesses, society, and the environment ... it aims to gradually decouple growth from the consumption of finite resources.”
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They say that it’s for the community and they don’t want to ask the community for tax dollars to buy the land. They say this will help keep rent low.
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They’re promise 100% occupancy by community entrepreneurs
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The remaining 26% is in question. There are currently no letters intent to invest but the team says they anticipate those coming in once approved for this project.
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Moderator Seledon blocks the answering of this question noting time restraints
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Moderator Seledon doesn’t allow for answer, but allows the developer to give closing remarks on their RFP.
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50 units of housing and a community center space are highlighted
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Developer notes they don’t officially own it yet but once they do they will restore it
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They would like emphasis on the intergenerational interaction, mothers, and the youth in these development projects as well.
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The community center will engage the youth in tech opportunities (more to come).
They’re asking for ~$6million in TIFF. Plan to secure funding through tax credits while putting in ~$5 million of their own capital
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Here are the next steps in the process: https://t.co/3sZevp0nDx
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Meeting ended at 8:09 pm
Agency Information
Chicago Department of Planning and Development
As the principal planning agency for the City of Chicago, the Department of Planning and Development (DPD) promotes the comprehensive growth and sustainability of the City and its neighborhoods. The department also oversees the City’s zoning and land use policies and, through its economic development and housing bureaus, employs a variety of resources to encourage business and real estate development, as well as a diverse and stable housing stock throughout the City.
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