Bronzeville Lakefront Project construction begins at former Michael Reece Hospital site
CHICAGO - City leaders broke ground on a multi-billion dollar project at the former Michael Reece Hospital in Bronzeville Wednesday.
After years of delays, the mix-used Bronzeville Lakefront development will be built to create more space for people to live, shop, and work.
The 48-acre city-owned site was sold to GRIT, a multi-partner local developer group, to be transformed into seven million square feet of offices, mixed-income housing, new roadway, parks and other public amenities.
The city is contributing $60 million in infrastructure spending to help redevelop the historic site.
The project is expected to take 14 years to complete, but Mayor Lori Lightfoot says it'll be worth it.
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"The Bronzeville Lakefront project will bring thousands of permanent and temporary jobs along with greatly needed affordable and market-rate housing to the near South Side," said Mayor Lightfoot.
The developers say the project is going to move forward, even though Mayor Lightfoot will be out of office in a few weeks.
"Bronzeville Lakefront has been designed to spur economic growth in a socially equitable way," said Scott Goodman, GRIT partner and Founding Principal at Farpoint Development. "It will put a sustainable ecosystem in place, attract diverse tenants, generate jobs, and become a model community of the future."
The project is expected to create 10,000 new full-time jobs that will be based in Bronzeville, as well as more than 9,000 construction jobs. There is an anticipated total investment of nearly $3 billion in the neighborhood.
The development will be executed in phases and is expected to be completed by 2035.